TON to Back Startups with $25M Accelerator
The Open Network (TON) has announced a new $25 million accelerator program aimed at supporting projects “poised to make a sizeable impact in the growing TON ecosystem.”
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In a blog announcement on Tuesday, TON said the funding will be provided by the so-called TONcoin Fund, a $250 million ecosystem. The minimum investment is said to be at the $50,000 mark, with maximum up to $250,000 per project.
Besides funding, the suitable projects will get mentorship from accelerator partners like Gotbit, Web3port, Tonstarter, TEB and Cypher Capital.
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Justin Hyun, Head of Incubation and Growth at TON Foundation, said that with the funding, TON wants to attract “new developers as well as successful repeat founders, based across a variety of key global locations.” Interested in participation, projects must build on TON, should be MVP ready while requiring support in marketing, business and technology.
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