StarkWare, an Israeli blockchain company valued at $8 billion, has launched a $4 million fund to support pre-seed and seed-stage African startups developing blockchain solutions. The fund will provide grants of up to $150,000, with larger investments available for startups building on StarkNet, StarkWare’s decentralized application platform on the Ethereum blockchain.
The initiative targets high-potential startups in West, South, and East Africa, especially in economies with high inflation, unstable exchange rates, or low financial inclusion. Selected startups will also receive mentorship and could secure additional funding of up to $500,000 from StarkWare. By investing in decentralized applications (dApps), StarkWare aims to help African businesses bypass traditional financial barriers through blockchain’s efficiency and scalability.
With Africa’s youthful population and growing crypto adoption, the continent is seen as a major hub for blockchain innovation. StarkWare’s investment aligns with this potential, focusing on scalability, cost efficiency, and financial transparency through blockchain technology.
Read the full news here: TechCabal