Blockchain
peaq and EWOR’s new program grants Web3 founders up to €150,000 in funding alongside education and networking support
peaq and EWOR are launching a new program to jointly support five entrepreneurs with early funding, world-leading educational material crafted by serial entrepreneurs, and unparalleled networking opportunities as they build machine-focused dApps on the peaq network
April 25, 2023 — Peaq Foundation, a non-profit organization supporting peaq, the Web3 network powering the Economy of Things, and peaq’s canary network krest, joins forces with EWOR, a blend of a master’s degree and early-stage VC firm that identifies, educates, and invests in the most promising entrepreneurs with early cheques. The result: A Web3-focused program for founders building decentralized applications for machines, robots, and vehicles. This 10-month program will grant prospective builders, hand-picked jointly by peaq and EWOR, a vast array of skills as well as mentoring and networking, while also backing them with funding opportunities of up to €150,000.
Opening the floodgates of the Great Resignation, the pandemic era also brought about an uptick in entrepreneurship. As hundreds of new founders join the fray, though, the old statistic holds true: About 90 percent of startups fail. In the Web3 space, a new frontier for most mainstream entrepreneurs, failure rate for projects is even higher. On top of all that, the risk-averse investment climate among today’s larger macroeconomic pressures keeps founders awake at night with fundraising concerns.
To help daring disruptors reverse these trends, Peaq Foundation and EWOR are launching a unique program for aspiring Web3 founders looking to build Economy of Things dApps on peaq. The 10-month program launched in April, welcoming five entrepreneurs hand-picked by EWOR and peaq from thousands of applicants. The Web3 cohort includes:
- Andres, the founder of the first PropTech company in Latin America,
- Radovan, an LSE graduate who bootstrapped his company Kykeon Advisors from $0 to $300k+,
- Usman, a guest lecturer at Exeter and a passionate technologist with a trove of fintech experience,
- Faizah, an ed-tech startup co-founder and disruptor passionate about financial inclusion,
- Elliot, an experienced data scientist passionate about AI and blockchain.
The program leverages EWOR’s Education Circle platform with high-quality Web3 courses co-created by EWOR and peaq and grants the students a vast array of mentorship, coaching, and networking opportunities with their peers and investors. It also includes weekly online sessions with seasoned entrepreneurs who have already built successful companies such as Adjust co-founder Paul H. Müller and KW Commerce founder Jens Wasel.
The most promising projects will be able to leverage the funding opportunities provided by the two organizations. As part of the collaboration with peaq, EWOR may opt to invest in the most promising Web3 EoT projects, signing tickets of €75,000 up to €150,000. Peaq Foundation, on its end, will bolster the builders with funds from its Ecosystem Grant Program and introductions to investors backing peaq. Where relevant, builders will also get introductions with companies and projects participating in the Gaia-X 4FM moveID project that peaq is part of alongside such enterprises as Bosch, Continental, and Airbus.
EWOR’s mission is to focus the world’s smartest people on the world’s biggest problems. Its partnership with Peaq Foundation, which is working on making the Economy of Things fair and decentralized, can generate a massive impact. The goal of the partnership is to empower a handful of entrepreneurs to work on topics such as:
- Making intimate healthcare data more secure and owned by the people
- Peer-to-peer solar energy trading
- Distributing machine-generated income more fairly
“Disruptive decentralized applications are the crucial component of the Economy of Things on peaq,” says Leonard Dorlöchter, peaq’s co-founder. “By teaming up with EWOR, we are focusing some of the smartest people in the world on some of the world’s most urgent challenges. We are excited to lend our support and skills to the prospective founders and help them transform entire markets and industries with Web3 tech.”
“Impact follows a power law,” says Daniel Dippold, Co-Founder and CEO at EWOR. “A small number of people are responsible for most of the change in the world. Our approach to making impact is to empower the most extraordinary visionaries to build enterprises with global impact. Through our partnership with peaq, we are granting Web3 entrepreneurs a program that will help them bring their ideas to life with all the support they need. We are making sure that the 1% who make 99% of the difference can leverage Web3 to fix the global ills of today.”
Blockchain
New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund
Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.
The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.
Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.
Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.
The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.
Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.
Source: arcticstartup.com
The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.
Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.
Acquisition Details
On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.
Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.
Strategic Intentions
Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.
Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.
Forward-Looking Statements
The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.
Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.
Source: blockchain.news
The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.
The Manta Foundation has launched its $50 million EcoFund to build a robust ecosystem for leading blockchain projects, as per Manta Network. This initiative demonstrates the foundation’s commitment to funding opportunities and developer support for innovative blockchain ventures.
Funding and Support Opportunities
Starting June 15th, the one-year EcoFund will offer significant financial support through its Ecosystem Grant Program, which provides early-stage projects with grants of up to $50,000. This initial funding is crucial for bringing innovative ideas to life.
Additionally, the EcoFund dedicates $35 million for direct investments in promising projects on the Manta Network. These strategic investments aim to foster high-growth ventures that align with Manta Network’s long-term objectives, promoting a collaborative and mutually beneficial environment.
Diverse Project Focus
The Manta Foundation supports a broad range of projects across sectors such as DeFi, Gaming, NFTs, and more. These initiatives are chosen for their potential to drive consumer adoption and significantly enhance the Manta Network ecosystem.
Applications for the EcoFund are accepted on a rolling basis, ensuring ongoing funding and support opportunities. The foundation prioritizes projects with robust business models and scalability, aiming to ensure the ecosystem’s financial health and sustainability.
Specialized Funding Categories
In addition to general grants, the EcoFund targets specific high-growth areas:
– AI/DePIN: Focused on using AI and Decentralized Physical Infrastructure Networks for sustainable solutions.
– Zero-Knowledge: Investments in zero-knowledge technology to boost privacy and security in the blockchain space.
– Memecoins: The Moon Mission Grant supports the development and growth of meme projects on Manta Pacific, fostering a vibrant memecoin culture.
Events and Hackathons
To further enrich the ecosystem, the Manta Foundation has allocated $5 million for online and offline events and hackathons. These events aim to attract new developers and users, fostering a culture of innovation and collaboration within the Manta Network community.
Source: blockchain.news
The post Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation appeared first on HIPTHER Alerts.
-
Blockchain Press Releases4 days agoBybit Takes You to Beach, Please! Romania’s Hottest Hip-Hop Festival with Headline Performances by Travis Scott, Wiz Khalifa, Anitta, and More!
-
Blockchain4 days agoAgeras targets ‘1-2 major acquisitions’ amid growing revenue, profits and market appetite for a pan-European consolidation of fintechs to catch its ‘camel ride’
-
Blockchain Press Releases4 days ago
Bybit Offers Football Fans a Chance to Win Big in its Crypto Cup 2024
-
Blockchain4 days ago
Buzzmint Announces Launch of Project IMI Wales, A New Token-Based Loyalty Platform to Revitalise Welsh Communities
-
Blockchain Press Releases4 days agoHTX Ventures Invests in Avail to Support Key Infrastructure Development
-
Blockchain6 days ago
XCAD Network Announces Second Creator Token $JAVI with YouTube Star RDjavi, following 100x Success of $DON
-
Blockchain Press Releases2 days ago
Bybit Web3 Celebrates 10 Million Wallet Milestones and Unveils Giveaways Worth Over $500,000 and 50,000 Web3 Points
-
Blockchain2 days ago
Daily Crypto News: BlockchainReporter Empowers Crypto Enthusiasts and Traders with Critical Information to Make Informed Decisions
