Sheesha Finance Announces Strategic Partnership with the Algorand Foundation

Sheesha Finance
5 min readMar 15, 2023

Sheesha Finance is happy to announce its Strategic Partnership with Algorand Foundation, the organisation focused on growing the ecosystem for Algorand — the world’s most advanced, secure and reliable layer-1 blockchain. The partnership will help connect early-stage projects from the Sheesha Finance incubator to the broader Algorand ecosystem.

What Algorand Foundation does and why it matters?

The Algorand Foundation is a non-profit organisation established in 2017 to advance the development and adoption of the Algorand blockchain as the most secure, reliable Layer1 blockchain. Algorand is a decentralised, open-source blockchain platform designed for speed, security, and scalability. The Foundation’s mission includes promoting the growth of the Algorand ecosystem by fostering a community of developers, entrepreneurs, and users.

Supporting the Development of the Algorand Protocol

One of the main ways the Algorand Foundation achieves its mission is by funding and supporting the development of the Algorand protocol. This includes financing research and development for new features and improvements, as well as providing resources for developers to build and test their applications on the Algorand blockchain.

Building and Fostering a Strong Community

The community has always been a central focus of Sheesha Finance. Our first incubation project was focused on real-world community building in Uganda where we helped develop a product that enables the local population to share culturally authentic home-cooked meals with the communities.

Akin to Sheesha, the Algorand Foundation is dedicated to building and fostering a strong community of developers, entrepreneurs, and users. This involves hosting meetups and hackathons, providing educational resources and training, as well as supporting the development of open-source software and tools.

Promoting Adoption of the Algorand Blockchain

The Algorand Foundation also plays a crucial role in promoting the adoption of the Algorand blockchain. This includes working with governments, businesses, and organisations to help them understand and utilise the capabilities of Algorand blockchain. The Foundation also helps develop and launch new projects and applications built on the Algorand blockchain to showcase the potential of the technology and drive adoption.

Unique Features of Algorand

One of the key features that sets Algorand apart from other blockchain platforms is its Pure Proof of Stake (PPoS) consensus mechanism. This algorithm makes Algorand suitable for a wide range of use cases because it is designed for high security and efficiency, while also allowing for fast and scalable transactions.These applications include financial services, supply chain management, and digital identity.

Promoting the Understanding and Adoption of Blockchain Technology

Sheesha Finance believes that the adoption of the underlying technology comes with continual education. In addition to its core mission, the Algorand Foundation also works to promote the broader adoption and understanding of blockchain technology. This includes supporting blockchain research and education initiatives and participating in industry events and conferences to share knowledge and insights.

Why Sheesha Partnered with Algorand Foundation

The Algorand Foundation can provide technical expertise and support to Sheesha Finance’s ever-growing incubator projects, including assistance with building and testing applications on the Algorand blockchain. Algorand Foundation also provides access to developer resources and tools, as well as guidance and support on best practices, for building and deploying decentralised applications.

Network and Community Building

The Algorand Foundation can also help Sheesha Finance’s incubator projects expand their networks and communities. This involves connecting Sheesha’s projects with potential partners, customers, and investors, as well as providing access to educational resources and training. The Foundation also hosts meetups and hackathons around the world where incubator project leaders can connect with other developers and entrepreneurs in the blockchain space.

Promotion and Adoption

The Algorand Foundation can also help promote and drive adoption for the products and services offered by Sheesha Finance’s ecosystem of projects. This includes working with governments, businesses, and organisations to help them understand and utilise the capabilities of the Algorand blockchain. The Foundation can also help developers in the Sheesha Finance ecosystem develop and launch their projects and applications on Algorand.

What the Decision Makers Have To Say

“We are delighted to be working with the Algorand Foundation to drive adoption of the Algorand Ecosystem across all of our partners,” said Nathan Cooper, Chief Programs and Innovation Officer at Sheesha Finance. He added, “Our collaboration with the Algorand Foundation holds significant potential in advancing our objective of expanding the Web3 startup ecosystem in the Middle East and North Africa region. In the next year, we plan to actively engage a greater number of early-stage Web3 projects through the Sheesha Foundry, our Incubator and Accelerator program, with the aim of increasing accessibility to Web3 technology, thereby fostering the development of more solutions, possibilities and increased adoption within this field.”

You can trust Algorand and Sheesha

At Sheesha Finance, we value each and every one of our strategic partners. Algorand Foundation’s importance cannot be overstated, as a big player in one of the fastest-growing areas in the ecosystem.

About Algorand Foundation

The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralized governance, and healthy and prosperous open-source ecosystem. Designed by MIT professor and Turing Award winning cryptographer Silvio Micali, Algorand is uniquely capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near zero transaction costs, and on a 24/7 basis. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism solves for the “blockchain trilemma” by achieving both security and scalability on a decentralized protocol, and without a second of downtime since it went live in 2019.

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About Sheesha Finance

Sheesha Finance is a decentralized, tokenized incubator and accelerator that’s helping web3 startups across all industries and blockchain networks build products and services that solve real-world teething problems. Based in the MENA region, Sheesha Finance is one of the first platforms to provide everyday investors with access to a diverse portfolio of early-stage projects, and its smart contract-based system is fully autonomous, making it efficient and user-friendly for both institutional and retail investors.

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Writer: Nathan Cooper, Chief Program and Innovation Officer at Sheesha Finance



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