Core DAO, the foundation that supports the decentralized protocol Core Chain, has announced the launch of a $5 million fund to help Web3 developers and projects in Africa.
The fund, called the Core African Innovation Fund, will provide grants, technical resources, builder programs, and venture capital investments to the most promising Web3 initiatives in the continent.
But wait, this exciting initiative isn’t just a one-time handout. It’s a treasure chest offering various avenues for support, including:
Grants: Got a groundbreaking Web3 project brewing? Apply for financial backing to turn your vision into reality.
Builder programs: Dive deep into the world of Web3 through educational programs and workshops designed to hone your skills.
Technical resources: No developer is an island! Access essential tools and infrastructure to streamline your Web3 journey.
Venture capital investments: For projects with high-growth potential, venture capital might be the rocket fuel you need to take your idea to the next level.
Why the focus on Africa,?
Well, Core DAO recognizes the continent’s vibrant tech community and its growing interest in Web3.
With a young, tech-savvy population and increasing internet access, Africa is perfectly positioned to become a major player in the Web3 revolution.
However, African Web3 builders often face hurdles like limited funding, technical expertise, and access to localized data.
The African Innovation Fund is here to bridge those gaps and empower them to create solutions that address local challenges and contribute meaningfully to the global Web3 ecosystem.
The fund will also foster a sustainable and interconnected Web3 ecosystem in Africa, by providing mentorship, guidance, and networks to the local builders.
One of the contributors of Core DAO, Rich Rines, said that the fund is more than just a financial support.
He said that the African Innovation fund will also nurture the next generation of Web3 builders and empower them to create a better future for themselves and their communities.