At Algorand, we understand that Web3 will not happen overnight. It is an undertaking that requires a lot of time, energy, and effort, with most of that input coming from the builders. With that in mind, on August 8, the first Algorand Incubator cohort kicked off.
After reviewing over 100 applications, we accepted 14 early-stage startups for eight weeks of practical learning sessions, expert workshops on key topics for growth, and dedicated mentorship. These projects and their founders learned from each other and benefited from resources provided by the Algorand Foundation. This program is designed to accelerate their journey toward testing and validating their business idea, achieving product-market fit, and setting them up for long-term growth and success.
The vision behind the Algorand Incubator was to support promising teams with a business idea in their early entrepreneurial stages by fostering a community where founders could refine their skills and build the connections needed to establish sustainable Web3 businesses. Smaller cohorts with more collaborative environments will become a proving ground for these projects to share experiences and knowledge freely.
Through this time in the Incubator, the projects have shown enormous growth, culminating in two days of pitching their projects to Algorand Foundation members.
The breadth of projects taking advantage of the Algorand platform is impressive. From tokenizing real estate and loyalty programs to creating staking platforms for peer-to-peer consensus delegation, each of the 14 companies offers a range of innovative solutions and shows how vibrant the next generation of Algorand projects will be.
Meet the Projects
Better Use Blockchain (BUB)
BUB aims to make blockchain technology more accessible across various sectors of society. The project focuses on enhancing data storage and transparency through blockchain, hoping to bridge the gap between complex technology and everyday applications.
Cycles is an NFT subscription management platform that gives users complete control over their subscriptions. It enables creators, entrepreneurs, and businesses to receive payments and provide services globally, leveraging blockchain technology to facilitate seamless, decentralized transactions.
Graphyti is a game that combines generative AI and blockchain technology to allow players to create personalized physics environments. This innovative approach hopes to revolutionize gaming experiences by offering unique, user-generated gameplay mechanics within a blockchain framework.
Igoprotect is a decentralized peer-to-peer consensus delegation platform for the Algorand blockchain. Its primary goal is to enhance the security of the Algorand network while enabling the development of impactful, sustainable solutions. The project aims to protect users' funds and support applications that rely on the network's integrity.
Formerly known as Algorand Multichain Wallet, Kiwi Protocol is developing a Telegram chatbot that functions as a non-custodial wallet, token factory, and cross-chain swap platform. The project seeks to simplify interactions with L1 and L2 blockchains by making DeFi operations accessible within the popular messaging app.
MeMa is a platform designed to democratize income from online art traffic, focusing specifically on memes. It aims to provide a solution for creators and buyers to easily trade and trace intellectual property connected to memes, offering a unique marketplace where meme creators can receive compensation through ad revenue and legal acquisition of meme rights.
Myrkle is developing a diverse and interconnected set of Web3 tools and applications that operate across multiple blockchain platforms. This project aims to create a robust and decentralized digital ecosystem, potentially offering users a wide range of blockchain-based services and functionalities.
NaijaChain is a decentralized local craft marketplace that aims to bring together local artisans and international marketplaces using blockchain technology. The platform allows users to collect and purchase unique artisanal products, hopefully empowering local creators and expanding their reach to a global audience.
Pacify addresses the issue of fake certificates in the job market, especially in Kenya, by using blockchain technology to issue and verify academic certificates on-chain. The project aims to make the assignment and verification of academic and professional qualifications more secure and reliable, potentially reducing fraud and enhancing trust in credential verification.
Poma is developing an "Engage to Earn" platform for developers, aiming to revolutionize how blockchain companies interact with their developer communities. The platform seeks to connect developers with blockchains and provide a unified tool for their interactions, potentially incentivizing engagement and fostering innovation within the blockchain ecosystem.
Pudu offers a points-based rewards program designed to help small and medium-sized businesses build customer loyalty at a low cost. By providing affordable loyalty program tools, Pudu aims to level the playing field for smaller businesses, enabling them to compete more effectively with larger enterprises in customer retention and engagement.
ReFind is a platform that uses blockchain technology to connect people who have lost items with those who have found them. The project incorporates an incentive system for returners, potentially creating a more efficient and motivated lost-and-found ecosystem while leveraging the transparency and security features of blockchain.
Vank is developing a tokenized real estate solution that enables underserved demographics to crowd-buy real estate and form real estate cooperatives. Using a digital wallet and SaaS infrastructure, Vank aims to make real estate ownership more accessible to anyone with a smartphone, with the intention of democratizing property investment and management.
Formerly known as Seerbot, Vistia is an advanced trading bot integrated with Telegram. It provides automated trading and real-time market analysis for cryptocurrency trading. Vistia aims to help users turn their trading strategies into automated bots, making crypto trading more efficient and less time-consuming while catering to both professional traders and those looking to generate income from idle assets.
Growing Success
Now that this cohort has ended, the Foundation will continue working with these projects to enter the Ecosystem Success program with a comprehensive support plan. That consists of custom-tailored bridge services designed to accelerate their journey to success, from cutting-edge branding and website design by professional designers to essential legal and compliance services, UX/UI development, and Discord and social media management strategy. We’re providing everything these startups need to thrive.
The Algorand Foundation believes in empowering projects to ensure the steady growth of Web3. Utilizing our robust platform, projects like those participating in the cohort will be well set to get their application market-ready.