Core DAO Launches African Innovation Fund: Empowering Web3 Builders with $5 Million Cash Prize!

Explore the groundbreaking African Innovation Fund by Core DAO, offering resources and networks to support local Web3 projects across Africa. Dive into the vibrant web3 landscape in Africa, learn about challenges faced by builders, and discover how the fund, with a $5 million cash prize, is fostering innovation, sustainability, and growth. Join the initiative to unlock the potential of the African crypto ecosystem and empower the next generation of decentralized applications and protocols.

Core DAO is excited to introduce the African Innovation Fund, 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, we would love to learn more about your project. Kindly share your details (here) and we will be in touch. 

The current web3 landscape in Africa

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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 African 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. 

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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:

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CoreDAO is actively seeking to support the best projects within the African Web3 space. The Core African Innovation Fund, a driving force in nurturing projects aligned with Core’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’s 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, offering a platform that is not just technically advanced but deeply rooted in the early visions of Web3 from 2008. 

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

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