StarkWare, an Israeli blockchain infrastructure company valued at $8 billion, has unveiled a $4 million venture fund aimed at fostering blockchain innovation across Africa. This initiative seeks to support early-stage startups developing solutions on StarkNet, StarkWare’s Ethereum-based decentralized application platform.
The fund targets pre-seed and seed-stage startups, offering grants up to $150,000. Promising projects may receive additional investments, typically up to $500,000.
Priority will be given to startups in West, South, and East Africa, especially those in regions with high inflation, volatile exchange rates, or low financial inclusion.
The fund is led by Moroccan entrepreneur and investor Kheireddine Kamal, who brings extensive experience in business development and blockchain ventures across the continent.
StarkWare aims to empower African entrepreneurs to develop scalable blockchain solutions that address local challenges. By leveraging StarkNet’s technology, the company envisions enabling startups to bypass traditional financial systems, offering decentralized and transparent financial tools.
Eli Ben-Sasson, CEO and Co-Founder of StarkWare: “Blockchain presents a unique opportunity for many parts of Africa to leapfrog outdated infrastructures and democratize access to financial tools with more decentralization and transparency.”
Kheireddine Kamal, Head of Africa Ventures at StarkWare: “We are looking for projects in African countries where economic conditions such as high inflation, volatile exchange rates, or low financial inclusion make blockchain solutions particularly relevant.”
This investment underscores StarkWare’s commitment to nurturing blockchain ecosystems in emerging markets, positioning Africa as a significant player in the global digital economy.
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