Draper-Backed Orion Fund Boosts Cardano Startups with New Accelerator

Tim Draper's $80 million Orion Fund is taking its support for Cardano to the next level. The fund has launched an accelerator program, in partnership with Draper University and the Cardano blockchain network. This new initiative will help Cardano-based startups become investor-ready by providing them with funding, mentorship, and access to Silicon Valley.

The 10-week Apex Growth Accelerator program is now open for applications, which close on September 1st. Selected startups can receive up to $70,000 in funding, typically taking a 3.5% equity stake. They will also have the opportunity to join Draper University in Silicon Valley and tap into the broader Draper network.

The accelerator targets startups in decentralized finance (DeFi), real-world assets, and other sectors that show significant traction. The program's goal is to prepare 'investor-ready' teams for future funding rounds.