TON accelerator program commits $25m this year for innovation
The TON accelerator program, supported by the $250 million TONcoin.Fund, has committed to allocating up to $25 million this year to support projects within the TON ecosystem.
The capital will be channeled into a range of strategic initiatives complemented by valuable partnerships and mentorship from the program’s accelerator partners.
More DeFi development
TONcoin.Fund, a dedicated TON-based fund with $250 million backing it, is set to provide the capital that will be allocated to a range of projects placing an emphasis on the field of decentralized finance (DeFi).
Each selected project will receive funding ranging from $50,000 to $250,000, alongside the valuable support and mentorship from accelerator partners.
Program partners include:
- Gotbit Markets Global, a hedge fund and market-making company specializing in trading and risk management
- Web3Port, a developer of tools that foster connections between web3 startups and contributors to drive innovation
- Tonstarter, the leading fundraising platform on TON
- Boom Labs, an incubator for web3 developers based in South Korea
- Cypher Capital Group, a multi-strategy crypto investment firm headquartered in the United Arab Emirates
“We are delighted to unveil the TON Accelerator Program as our ecosystem continues to evolve and attract new talent. This is the beginning of many different incubators that will be supported. Funding forms part of our local hubs rollout strategy, and our ecosystem will work to attract new developers as well as successful repeat founders based across a variety of key global locations.”Justin Hyun, head of incubation and growth at TON Foundation.
The TON community has opened submissions for MVP-ready projects developed on the TON blockchain, specifically those supporting the TVM (TON Virtual Machine) and the TON smart-contract language.
Projects seeking assistance in marketing, business development, and technology are invited to apply for support. For proof-of-concept or prototype teams in need of initial technical guidance, earlier-stage grants are also available to facilitate their progress.
A foundation for growth
Since its inception in 2020, TON has gained popularity in the industry due to its architecture. Its capability has captured the attention of developers, businesses, and enthusiasts, as it addresses challenges facing blockchain technology.
Support from the TONcoin.Fund may be amplified through the accelerator program, and encourage entrepreneurs, developers, and investors to explore the TON ecosystem.