Blockchain Platform Zilliqa Injects $5M USD To Support Promising Startups
br>
ZILHive, the ecosystem growth arm of high-performance blockchain platform Zilliqa, has launched a strategic annual investment fund of up to $5 million for 15 promising companies building on the Zilliqa platform.
This investment will be funnelled through two new initiatives in the ZILHive ecosystem:
- ZILHive Incubator: A 14-week programme designed to match developers and industry professionals looking to build blockchain-based solutions. The program is aimed at both technical and non-technical entrepreneurs to support the growth of a global pool of talent to recruit from.
- ZILHive Ventures: An investment vehicle that will support mature projects that have completed both the ZILHive Incubator and Accelerator programs. The fund will invest between US$50,000 to US$500,000 into promising companies in exchange for equity, tokens, or a combination of both.
These two initiatives serve to supplement the $5 million already previously committed to grants, accelerator, and education initiatives in 2018. Now comprising a total of five growth engines, ZILHive is designed to offer holistic support to promising talent and high-growth projects across the global tech ecosystem.
Past ZILHive mentees and grant awardees include Draper Associates-backed Unstoppable Domains and Mintable, a Mark Cuban-backed NFT platform.
“ZILHive has always had big ambitions: to drive more open and inclusive finance and commerce gateways for communities and companies worldwide, and power the Web 3.0 era,” said Han Wen Chua, Senior Vice President of Ecosystem Development at Zilliqa. “We have now doubled our investment into high-potential startups and initiatives in service this goal: guiding entrepreneurs from right from the drawing board, seeding and nurturing them to become not merely a blockchain success story, but provide truly useful applications for people.”