Algorand Foundation, a Singapore-based organization managing Algorand blockchain protocol, has announced a grant partnership with TiE Global, a Silicon Valley-based nonprofit organization devoted to entrepreneurs in all industries, to empower college students to become the next generation of innovators & entrepreneurs in blockchain technology.
Algorand Foundation announced the news in a press release on Wednesday, January 13. According to Algorand Foundation, this partnership is part of its ongoing efforts to support education and participation in blockchain technology in general and the Algorand blockchain project itself.
TiE Global, founded in 1992 in Silicon Valley, is a global network that promotes entrepreneurship through mentoring, networking, education, incubating, and funding. To further its mission, TiE Global has launched a TiE University program. This program is going to hold a global entrepreneur development and mentorship competition in the form of a business hackathon from March 12 to 14, 2021 across 200 colleges in 50 cities around the world.
The hackathon partners will purpose business or use case challenges to hackathon participants that they try to solve.
As part of this partnership, Algorand Foundation is also a partner to this TiE University Global Business Hackathon. According to the foundation, as an initial step in the partnership, it will engage with the Algorand community to bring forward three business challenges that would have a significant, positive impact on the Algorand ecosystem. Hackathon participants will choose a challenge from these three challenges and then build innovative solutions against them.
Alogrand Foundation will also support these teams with funding through its Algorand Foundation Grant program that, as reported, was announced in April of 2020 to spur innovation on Algorand blockchain protocol. This 250 million ALGO token grant program supports qualified developers across four major categories that include research, development tools & infrastructure, DApps & use cases, and education and community.
Sean Lee, CEO of Algorand Foundation, commented:
“We are delighted to announce our partnership with TiE University today. Enabling the next generation of innovators and entrepreneurs through understanding the disruptive potential of the Algorand blockchain is a key task in the development of the global Algorand ecosystem.”
Dr. Paul Lopez, the co-chair of the TiE University global program, commented:
“We at TiE believe that it is vital to build the next generation of entrepreneurs. Hence, we welcome the partnership with the Algorand Foundation in empowering college students so they aspire to become entrepreneurs.”
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