The program will invest in early stage startups building within the Stacks ecosystem.
The two firms have become core sponsors of the DeFi.org accelerator, which will provide grants for innovative startups working in decentralized finance.
Axelar is a decentralized protocol designed by the founding members of Algorand to make it easier for dapps to work across blockchains.
Startups working with Algorand's blockchain may receive up to $500,000 in seed funding through the program.
The Chicago DeFi Alliance (CDA) just launched one of the first accelerator programs devoted entirely to DeFi crypto startups.
Enterprise Singapore, a government agency set up to develop the startup ecosystem, is supporting a new blockchain accelerator program.
Columbia University and IBM are launching a pair of tech accelerators to aid blockchain startups in their early phases.