[ad_1]
Dubai, UAE, April 16, 2024, Chainwire
MANTRA announces the launch of its new incubation program at Dubai World Trade Center (DWTC) following an $11 million funding round led by Shorooq Partners. This program is part of MANTRA's efforts to contribute to the Real World Assets (RWA) tokenization sector, with a focus on the MENA region.
Launched in collaboration with Virtuzone, the leading business services provider in the UAE, the MANTRA Incubator program is designed to promote and develop new projects within the MANTRA ecosystem and the RWA space. MANTRA will provide the startups with financial support for development, infrastructure costs, licensing, banking and administrative services.
Selected through a careful process, five outstanding projects will have the opportunity to join the incubator program and receive comprehensive support to ensure their successful integration into the MANTRA Chain ecosystem.
Each selected project will benefit from a seed capital investment of $100,000. The funds are provided from the personal resources of MANTRA's founder and CEO, John Patrick Mullin, reflecting his strong commitment and desire to make the program a success. In addition to the grants, the program includes the dedicated support of an experienced project manager who will monitor progress and provide expert advice, as well as the opportunity to make valuable contacts and gain access to a network of investors, creating a solid foundation for their future growth and success within the MANTRA ecosystem.
The incubation journey begins at MANTRA's offices in Hong Kong, where teams will spend an enriching month immersing themselves in the vibrant technology scene. The journey continues in San Francisco, offering another month of exposure to innovative practices and industry leaders. Ultimately, the teams will be headquartered at the prestigious Dubai World Trade Center, providing projects with a global platform to showcase their potential.
The incubation space is located in DWTC's Sheikh Rashid Tower in the building's Maktabi Business Center and covers an area of over 17,000 square meters. This reflects Dubai's role as a hub for crypto innovation and aligns with MANTRA's goals for a vibrant startup ecosystem.
John Patrick Mullin, CEO and co-founder of MANTRA, emphasized the program's aim to go beyond simply providing jobs. “We are building a holistic platform for innovation in the Web3 space, enabling promising companies to leverage resources, networks and an enabling environment in one of the most dynamic crypto scenes in the world,” said Mullin.
“We have seen the unprecedented growth potential of Web3 companies in recent years, particularly in specialized areas such as AI, big data and machine learning. As a future-oriented company, we want to be among the pioneers in this area and build the necessary infrastructure for starting and scaling Web3 start-ups. The UAE aims to have ten unicorns by 2030 and we strive to work with the government to achieve this vision,” said Neil Petch, chairman and co-founder of Virtuzone.
“Our groundbreaking collaboration with MANTRA and this groundbreaking incubator project reflects our commitment to creating an enabling environment for Web3 startups to grow, thrive and scale exponentially,” said George Hojeige, Group CEO of Virtuzone. “Our vision is to increasingly turn to a technology and innovation-driven growth strategy and to establish ourselves as a pillar of Web3 and Fintech development, not only in the country but across the region.”
Register for the incubator here
About MANTRA
MANTRA is a security-focused RWA Layer 1 blockchain capable of complying with and enforcing real-world regulatory requirements. As a permissionless chain, MANTRA enables developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced technology modules, compliance mechanisms, and cross-chain interoperability.
Following the successful launch of the public testnet in November 2023, MANTRA has now launched the long-awaited next phase of the incentivized testnet, Hongbai. The incubation program is a key component of MANTRA's strategic plan to enable developers to build RWA-focused protocols on the MANTRA chain, further expanding the ecosystem.
Website | X | LinkedIn | Telegram | Medium | Instagram
About Virtuzone
Virtuzone is the UAE's first and largest business formation specialist and an award-winning business services provider. Founded in 2009, Virtuzone has founded the companies of more than 70,000 entrepreneurs from 180 countries. With over 200 employees speaking 40 languages, Virtuzone offers comprehensive business formation and business services ranging from commercial license and visa processing to bank account opening, tax advice, compliance, accounting, legal services and more. Virtuzone is part of Virtugroup, a Dubai-based holding company that includes Virtuzone Accounting and Tax, VZ Real Estate, VZX and Next Generation Equity, which offer citizenship and residency programs through investment.
ContactMarketing ManagerChristoph Lidmann[email protected]
[ad_2]
Source link
