Announcing Core Foundation’s $5M Core Africa Innovation Fund: Empowering Local Web3 Builders

Translation: Mandarin

The Core Africa Innovation Fund is a groundbreaking initiative to provide resources and networks to support local Web3 builders and projects across the African continent. This new fund is set to foster innovation, sustainability, accessibility and growth within the African blockchain ecosystem.

If you’re building interesting web3 projects in Africa and would like to explore building on Core Chain, kindly share your details (here).

The current web3 landscape in Africa

According to the findings presented in the 2023 Chainalysis Report, it has been revealed that several African nations are emerging as key players in the global crypto landscape. This trend is particularly noteworthy considering Africa boasts the world’s youngest internet-savvy population. Driven by this tech-savvy demographic, innovative builders across the continent are harnessing the power of blockchain technology to devise solutions that address local problems and extend their impact globally.

Onboarding the next 1 Billion people into web3 comes with its challenges and these innovative local builders encounter several roadblocks including limited access to funding sources, technical resources, and high-level localized data & insights. The innovative builders in Africa are actively seeking solutions to facilitate a smoother onboarding process into the web3 space.

Supporting the ecosystem

Unlocking the potential of the African crypto landscape requires a collaborative effort to empower the next generation of builders. By addressing funding constraints, providing technical support, and enhancing access to localized data and insights, the global community can contribute to fostering a thriving web3 ecosystem in Africa.

The Core Africa Innovation Fund adopts a long-term, user-friendly, and sustainable approach. The fund will support local projects that place a strong emphasis on delivering tangible value to the local community through Grants, Technical resources, Builder Programs, Partnerships with accelerators and institutions, Connections to VCs and Potential Investment.

This initiative goes beyond funding; it also involves aligning key builders with established blockchain entities including VCs to empower the next generation of decentralized applications and protocols. With strategic partnerships, the fund aims to create a more decentralized and interconnected future for the African blockchain ecosystem.

This approach ensures the promotion of long-term success, playing a pivotal role in driving innovation and growth within the African Web3 landscape.

Calling All Builders:

The Core Foundation is actively seeking to support the best projects within the African Web3 space. The Core Africa Innovation Fund, a driving force in nurturing projects aligned with Core Chain’s long-term vision, is set to unlock the full potential of decentralized projects on the African blockchain.

Some verticals we’ll be looking out for to support builders in but not limited to: Gaming, Stablecoins, Cross border Payments, Supply Chain, Real Estate, Defi Backed Loans, Credit Rating System, Decentralised Database/File storage, Healthcare, NFTs & Defi etc.

Core Chain Commitment

Core Chain is leading the way as an innovative Layer 1, uniquely positioned at the intersection of Bitcoin’s principles and Ethereum’s composability. This fusion makes Core Chain a first-of-its-kind “Bitcoin-aligned” chain.

With a foundation of decentralization, scalability, and security, Core Chain is making Web3 mass adoption a reality.