Cardano Accelerator Seeks Up to $70,000 Investment

Draper University, in collaboration with the Cardano Foundation and Orion Fund, is launching a 10-week Web3 accelerator program. The program will select 10 startups at the investment-seeking stage, offering up to $70,000 in investment with a target equity stake of 3.5%. The focus will be on tokenization of real assets, DeFi for institutions, and enterprise blockchain solutions. The Cardano Foundation will oversee the program, with Draper Dragon managing the Orion Fund, which is designed as an $80 million fund for the Cardano ecosystem. The application deadline is September 1, with final offers expected by September 10, and the program is set to begin on October 5. The program will operate in an on-site format, emphasizing collaboration among teams and increasing contact frequency with investors. Within the Cardano community, there are expectations for specialization in ecosystem fund management, alongside concerns regarding risks associated with concentration under a single management entity.

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