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Crypto currency initiatives can receive shares from the funds of large investment companies through various agreements. Just now, the details of the fund that Algorand joined were shared with a new announcement. Following the announcement, due to the extremely negative sentiment in the general market, the AGLD price did not experience a massive increase.
AGLD Coin News
CDP Venture Capital, Algorand, and Microsoft as technical partners launched Frontech Accelerator, a new investment program focusing on web3, artificial intelligence, and metaverse initiatives worth 7 million Euros. Starting today, initiatives can apply for the grant program through the fund’s website until May 19.
Algorand network initiatives whose applications are accepted will be able to receive an investment of 120 thousand EURO. The announcement made by the Algorand Foundation stated the following;
“The Algorand Foundation is proud to announce its role as a technical partner in the newly launched Frontech Accelerator, a program of CDP Venture Capital’s National Accelerator Network. With the support of CDP’s own Accelerator Fund as well as co-investors GELLIFY and Cariplo Factory, the program will reach a total donation of over 7 million Euros.
Frontech‘s focus is on ‘frontier’ technologies or technologies that enable digital transformation, such as applications in digital identity, intellectual property identity verification, generative AI models, gaming, AR/VR, digital art, and more.
Over three years, ten initiatives at the seed and early stage will be selected each year and will receive an initial investment of 120 thousand dollars, along with various supports.”
