MANTRA, a prominent Blockchain-based company, has initiated a new incubation program specifically aimed at fostering innovation in Real World Asset (RWA) tokenization. With a robust backing of $11 million led by Shorooq Partners, the program is set to take place at the Dubai World Trade Centre. This initiative underlines MANTRA’s dedication to enhancing technological advances in the MENA region.
Empowering New Ventures with Essential Support
In a strategic partnership with Virtuzone, a top corporate service provider in the UAE, MANTRA’s program is designed to assist burgeoning projects within its ecosystem and the larger RWA sector. This includes comprehensive support in funding, licensing, banking, and administrative services. Five select projects will be given the opportunity to integrate into the MANTRA Chain ecosystem with a starter fund of $100,000 each from MANTRA’s founder, John Patrick Mullin.
The chosen participants will benefit from direct mentorship, vital networking opportunities, and investor connections. This not only ensures a smoother integration into the commercial landscape but also positions them for sustained growth and success.
Global Exposure and Networking Opportunities
The program kicks off in Hong Kong, immersing participants in a vibrant tech environment, followed by a stint in San Francisco. Ultimately, the teams will settle at the Dubai World Trade Centre, using this global stage to demonstrate their innovations and connect with influential figures in the industry. Mullin highlights the program’s aim to provide a comprehensive platform for nurturing promising ventures in the competitive Web3 space.
Points to take into account
- Strategic location choices enhance global networking and exposure.
- Initial funding aids in overcoming early financial hurdles.
- Partnership with established entities like Virtuzone ensures well-rounded support.
This initiative by MANTRA, complemented by strategic partnerships and substantial financial backing, exemplifies a significant step towards cultivating innovative blockchain solutions that could potentially redefine the Web3 landscape, particularly in regions ripe for technological advancement like the Middle East.