Tim Draper backs accelerator for Cardano founders
Draper University, Cardano Foundation, and Orion Fund have launched the Apex Growth Accelerator, a 10-week Silicon Valley residency offering up to $70K for founders building DeFi, tokenization, and enterprise projects on Cardano. Applications close September 1.
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A Silicon Valley Residency for Cardano Builders
@draper_u, @Cardano, and @OrionFund have opened applications for the Apex Growth Accelerator, a 10-week, fully in-person residency program aimed at founders building on the Cardano network. The deadline to apply is September 1, with the cohort set to kick off in October.
The program offers up to $70,000 in seed capital in exchange for a target 3.5% equity stake, making it an equity-based arrangement rather than a grant. The program will host a single cohort of 10 companies, giving participants close access to mentors and investors throughout the residency.
The accelerator focuses on high-growth financial verticals, specifically real-world asset (RWA) tokenization, institutional decentralized finance (DeFi), and enterprise-grade blockchain infrastructure. Organizers say the residency is for investment-ready startups rather than early-stage consumer apps.
Part of a Broader Cardano-Draper Ecosystem Push
The Apex Accelerator sits within a larger strategic partnership between Cardano and the Draper network. Cardano and Draper Dragon launched the Draper Dragon Ecosystem Fund, known as the Orion Fund, a strategic initiative designed to support Cardano-native and Cardano-integrated companies, expand on-chain utility, and strengthen the broader ecosystem. The Orion Fund is a strategic $80 million ecosystem investment initiative aimed at accelerating institutional adoption and expanding the Cardano blockchain ecosystem.
Draper University serves as the Orion Fund's acceleration partner, delivering startup programs through its Silicon Valley campus that build a pipeline of new talent while providing existing projects with mentorship, a global alumni network, and resources needed to scale.
The initiative leverages the broader Draper network, founded by Tim Draper, which has backed major technology companies including Tesla, Skype, Baidu, and Coinbase. The fund's goal is to raise Cardano's TVL to over $3 billion, which would significantly increase the network's on-chain economic activity.
Sources:
Cardano Foundation: Orion Fund Initial Phase
Bitcoin.com News: Why Draper University Is Betting $70K on In-Person Acceleration
GNCrypto News: Draper University Launches In-Person Cardano Accelerator
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Crypto RichRich has been researching cryptocurrency and blockchain technology for eight years and has served as a senior analyst at BSCN since its founding in 2020. He focuses on fundamental analysis of early-stage crypto projects and tokens and has published in-depth research reports on over 200 emerging protocols. Rich also writes about broader technology and scientific trends and maintains active involvement in the crypto community through X/Twitter Spaces, and leading industry events.