In less than three years of its October 2021 launch, EMURGO Africa aims to invest and assist 100 African startups in developing socially effective solutions, positioning Cardano as the regular tech infrastructure solution for Africa’s budding industrial advancement. The EMURGO Cardano network investment fund has set aside $100 million to achieve the objective.
EMURGO Africa and Everest Ventures Group, a prominent Asian blockchain venture studio, formed a tactical partnership to debut Adaverse and acquire a stake in potential local Cardano entrepreneurs to begin this project. According to a recent report, Africa’s blockchain industry would expand from $1.1 billion in 2020 to $134.9 billion by 2028, which shows the necessity of funding African entrepreneurs.
Using the Cardano blockchain, Adaverse invests in and promotes entrepreneurs in Africa that are developing the next generation of Web3 decentralized apps like as NFTs, DeFi, and many others.
In addition to 24 hours of 1:1 coaching and 12 weeks of rigorous training for creators, Adaverse offers a three-month accelerator program with a group of experienced professionals and specialists with extensive understanding of Cardano blockchain networks, venture funding, and business.
Training includes a wide range of topics:
- Product development suitable for market
- Tokenomics
- Technical assistance
- Cardano framework and design standards
- Appropriate fundraising & listing procedures
Initial-stage businesses from concept through post-revenue series A enterprises are all included in Adaverse’s scope of coverage. Series A ventures may acquire a maximum of $2 million in the financing, while pre-seed businesses can receive a maximum of $500,000 as an investment. The three-month accelerated program at Adaverse is accessible to applicants at any time of year.