The Swiss-based not-for-profit organization the Dfinity Foundation has launched “a decentralized, onchain global acceleration platform.” The new accelerator will initially be funded by a $15 million grant from Dfinity and the ICP Asia Alliance.
Dfinity Foundation Launches Onchain Accelerator Platform
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Fostering the Development of the Asian Web3 and AI Ecosystem
The Dfinity Foundation, a not-for-profit organization and key contributor to the Internet Computer Blockchain (ICP), has launched “a decentralized, on-chain global acceleration platform.” Known as the Olympus Acceleration Platform, the accelerator aims to support the development and adoption of Web3 technology across ecosystems.
According to a statement, the accelerator will initially be funded by a $15 million grant from Dfinity and the ICP Asia Alliance. The funds will be used to foster a dynamic Web3 and artificial intelligence (AI) ecosystem in Asia. Similar initiatives for the European Union, Middle East, North Africa, Africa, and America are also planned.
Dominic Williams, founder and chief scientist of the Dfinity Foundation, said the objective is to see new-generation projects on the ICP protocol. He added:
“By creating a web3-based global platform for everyone, we’re able to bring together top talent, projects, investors, and mentors to create a credible and trustless marketplace offering equal opportunity and access to all qualified projects. Traditional accelerator programs are permissioned and operate as silos, many are also not sustainable and rely on grants.”
The statement outlined the distinguishing features of the Olympus Acceleration Platform. It uses an open stake model, allowing projects, mentors, and investors to interact freely. The platform will also enable onchain verification of key project growth metrics.
Venture capital firms joining the program include Fenbushi Capital, Fundamental Labs, Softbank Vision Fund, Newtribe Capital, and Cypher Capital, among others.
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