Program Overview

The Algorand Startup Lab Program Cohort-2 is designed to accelerate the growth of Web3 startups leveraging the Algorand & T-Hub expertise. The program aims to nurture & support Prototype/MVP stage startups by providing resources, mentorship, and access to funding opportunities.

Program Overview

The Algorand Startup Lab Program Cohort-2 is designed to accelerate the growth of Web3 startups leveraging the Algorand & T-Hub expertise. The program aims to nurture & support Prototype/MVP stage startups by providing resources, mentorship, and access to funding opportunities.

Program Objectives

The objective of the Algorand Startup Lab Program is to connect innovative startups with Algorand, facilitating collaboration in key areas like Blockchain and Web 3.0 to drive technological advancements, enhance startup capabilities, and accelerate ecosystem growth. The program is designed to support startups in achieving product readiness, market readiness, and investment readiness, positioning them for accelerated growth and success.

Program Benefits

Algorand is a layer one public blockchain protocol with several differentiating features

Expert Sessions and Mentorship

A panel of Subject Matter Experts (SMEs) and mentors shall support the startups, providing expert guidance throughout the program through 1-1, workshop sessions.

These sessions will focus on various topics related to product, market & investment readiness aspects.

By involving SMEs, the program ensures startups gain insights and expertise, empowering them with the necessary skills and knowledge to effectively communicate their value propositions and strengthen their capabilities in business incubation.

Benefits for Startups

01

Tailored Guidance for Product Refinement and Enhancement

Startups receive personalized advice and insights to fine-tune their products, ensuring they meet market demands and stand out from the competition.

02

Market Readiness

Startups will be supported in navigating market entry strategies, ensuring they are equipped to meet customer demands and market requirements.

03

Preparation for Fundraising

Startups will gain knowledge and resources necessary to navigate the complex world of fundraising, from creating compelling pitch materials to identifying potential investors and expanding their businesses.

04

Engagement and Relationship-Building

Facilitate opportunities for interaction and networking with the executive team of Algorand, fostering strong relationships and potential future collaborations.

05

Workshops

Startups gain valuable skills and insights through specialized workshops, helping them establish competitive pricing, analyze their market, and refine their business strategies.

06

Pitch Coaching

Startups receive expert guidance to develop and deliver compelling pitches, making a strong impression on potential investors, partners, and customers.

07

Market Access

This benefit helps startups enter new markets and gain exposure to a wider audience, potentially leading to increased sales and growth opportunities.

08

Expert Guidance

Startups will have access to advisory sessions from seasoned professionals in the industry.

Eligibility Criteria

Program Phases

Workshops & Trainings

Providing startups with knowledge and skills across technical and business functions to build robust blockchain-enabled solutions.

Technical Web3 Support

Providing startups with knowledge and skills across technical and business functions to build robust blockchain-enabled solutions.

Mentorship Sessions

Well timed mentorship sessions with industry veterans and confidential feedback to help startups course-correct or validate assumptions to achieve product-market fit.

Product Readiness

Helping startups refine their prototypes to meet technical and market standards.

Market Readiness

Equipping startups with strategies and tools to enter and compete in their target markets.

Investment Readiness

Preparing startups to effectively pitch and secure funding from investors.

Product Readiness

Helping startups refine their prototypes to meet technical and market standards.

Market Rediness

Equipping startups with strategies and tools to enter and compete in their target markets.

Investment Readiness

Preparing startups to effectively pitch and secure funding from investors.

Eligibility Criteria

If you meet the following requirements, Algorand Startup Lab is an ideal fit for you:

Startup Location

India

Startup Attributes

Web 3 / Product stage / MVP ready

Key Components

If you meet the following requirements, Algorand Startup Lab is an ideal fit for you:

Startup Location

India

If you meet the following requirements, Algorand Startup Lab is an ideal fit for you:

Startup Attributes

Web 3 / Product stage / MVP ready

Mentor Sessions
Weekly mentoring by industry experts and subject matter specialists.
Workshops
 Targeted sessions on blockchain scalability, tokenomics, and fundraising strategies.
Demo Day
Showcase your startup to investors and stakeholders at the program’s culmination.

Key Components

Mentor Sessions
Weekly mentoring by industry experts and subject matter specialists.
Workshops
 Targeted sessions on blockchain scalability, tokenomics, and fundraising strategies.
Demo Day
Showcase your startup to investors and stakeholders at the program’s culmination.

Focus Areas

Focus Areas

Blockchain

Web 3.0

Adjacent Technologies

Duration: 12 months

Program Schedule

February 12, 2024
Application Open
March 13, 2024
Application Close
March 22, 2024
Program Kick-off
December 15, 2024
Demo Day

FAQs

The Startup Lab program brings together the very best in business and industry mentorship with world class Web3 developer support for startups building blockchain solutions for real world impact.  Each of the twenty selected teams will be assigned a dedicated business mentor and Web3 technical mentor to work with over the course of the year, and the program will include a mix of virtual and live sessions that are specifically focused on helping each team build and fine-tune their product based on market feedback, prepare to take their product to market, and emerge ready to raise their first (or next) round of capital.

In order to be eligible for the Algorand Startup Lab, a startup must be (1) based in India and (2) building a Web3 solution. Applicants should have a minimum viable product (MVP) or working prototype, and at least one dedicated founding member on the team. Teams must be willing and able to participate fully in the program remotely and in-person at T-Hub. The startup team should also be willing to natively build their application on the Algorand blockchain if their product is currently on another chain.

  1. Experienced mentors to help fine tune products, strategies and pitches
  2. Hands-on technical expertise to build on Algorand
  3. Access to customers and markets for live testing and feedback
  4. Potential pre-seed funding and investment introductions
  5. Workshops on relevant skills like solution design, marketing & fundraising
  6. Networking forums to explore partnerships

 

While diversity of skills on a team is preferred, exceptional individuals with proven ability to execute may also apply. Priority will be given to those who have demonstrated progress through development work or relevant partnerships.

We aim to support any innovative, scalable Web3 solution. Suggested focus areas include health care, supply chain, sustainability, agritech, and fintech, but solutions for other verticals where real-world problems are being addressed are also welcome.

While registration in India is not required, physical presence during the program is expected. Preference will be given to Indian-based startups to maximize in-person engagement and collaboration.

FAQs

The Startup Lab program brings together the very best in business and industry mentorship with world class Web3 developer support for startups building blockchain solutions for real world impact.  Each of the twenty selected teams will be assigned a dedicated business mentor and Web3 technical mentor to work with over the course of the year, and the program will include a mix of virtual and live sessions that are specifically focused on helping each team build and fine-tune their product based on market feedback, prepare to take their product to market, and emerge ready to raise their first (or next) round of capital.

In order to be eligible for the Algorand Startup Lab, a startup must be (1) based in India and (2) building a Web3 solution. Applicants should have a minimum viable product (MVP) or working prototype, and at least one dedicated founding member on the team. Teams must be willing and able to participate fully in the program remotely and in-person at T-Hub. The startup team should also be willing to natively build their application on the Algorand blockchain if their product is currently on another chain.

  1. Experienced mentors to help fine tune products, strategies and pitches
  2. Hands-on technical expertise to build on Algorand
  3. Access to customers and markets for live testing and feedback
  4. Potential pre-seed funding and investment introductions
  5. Workshops on relevant skills like solution design, marketing & fundraising
  6. Networking forums to explore partnerships

 

While diversity of skills on a team is preferred, exceptional individuals with proven ability to execute may also apply. Priority will be given to those who have demonstrated progress through development work or relevant partnerships.

We aim to support any innovative, scalable Web3 solution. Suggested focus areas include health care, supply chain, sustainability, agritech, and fintech, but solutions for other verticals where real-world problems are being addressed are also welcome.

While registration in India is not required, physical presence during the program is expected. Preference will be given to Indian-based startups to maximize in-person engagement and collaboration.

Having an MVP or prototype developed is highly preferred; however, exceptional ideas and teams will be considered on a case-by-case basis based on progress and commitment demonstrated.

The focus of the Startup Lab is to support early-stage startups building innovative, scalable solutions using Web3 technologies. This includes both companies exploring a transition from Web2 to Web3, as well as those building their first offerings natively in the Web3 space. While applications built on Algorand’s features are preferred, consideration will also be given to multi-chain startups. The main criterion is the innovative potential of the solution and how it leverages core capabilities of Web3 technologies.

While experience with Algorand is valued, it is not required. The program aims to onboard startups onto Algorand and help them leverage its features. Multi-chain experience may also be considered.

The program is fully funded by Algorand Foundation and T-Hub. Startups do not pay any registration or participation fees.

While travel expenses are typically the responsibility of each startup, a limited amount of travel support may be considered based on need and availability of funds for this purpose.

Startups will receive 1:1 custom reviews to refine their solutions. Feedback along with potential for pilot deployments, funding, and other support will be discussed to help startups progress towards commercialization and scaling their solution.

Ideally a startup should have an MVP and a targeted user base. Commitment to ongoing development is key.  If you are unsure, please reach out to the organizers to discuss your specific stage and fit for the program.

Based on startup progress and investment-readiness, Algo Ventures will evaluate startups that seek follow-on funding for potential investment. Follow-on funding is not guaranteed by participation in the Startup Lab program.

Selection will be based on factors like innovation level, problem-market fit, solution design, technical feasibility and roadmap. Shortlisted startups might undergo interviews before final selection into the program.

No, multiple applications by the same team/individual will not be considered.  If your startup has multiple focus areas, please mention all of them in a single application form. 

 

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