MANTRA, a security-first RWA Layer-1 blockchain, has announced a new incubation program set to launch at the Dubai World Trade Center (DWTC), fueled by an impressive $11 million funding round led by Shorooq Partners, as per the information shared with Finbold on April 16.
This project underscores MANTRA’s commitment to driving innovation in the Real World Asset (RWA) tokenization, particularly in the Middle East and North Africa (MENA).
Nurturing new nascent projects in the RWA landscape
In collaboration with Virtuzone, a prominent corporate service provider in the United Arab Emirates (UAE), MANTRA aims to nurture emerging projects both within its own ecosystem and the broader RWA landscape by offering financial backing, licensing, as well as banking and administrative services.
Picks for you
Carefully chased, five standout projects will have the opportunity to participate in the incubator program, receiving tailored support to seamlessly integrate into the MANTRA Chain ecosystem.
With each project receiving a $100,000 seed investment, funded by MANTRA’s founder and CEO himself, John Patrick Mullin, the program demonstrates a tangible commitment to fostering success.
Through hands-on guidance from experienced project managers, the project teams will discover invaluable networking opportunities and gain access to a pool of investors, laying a solid foundation for future growth.
MANTRA’s global reach
The program begins in Hong Kong, where participants will immerse themselves in the dynamic technology scene for a month, followed by another month in San Francisco.
Ultimately, the teams will find their home base at the prestigious Dubai World Trade Center, leveraging its global platform to showcase their newly acquired skills and innovative solutions.
John Patrick Mullin, MANTRA’s CEO and Co-Founder, emphasized the program’s broader objectives, stating:
“We’re building a holistic platform for innovation in the Web3 space, enabling promising companies to leverage resources, networks, and a nurturing environment in one of the most vibrant crypto scenes globally.”
— John Patrick Mullin, MANTRA’s CEO and Co-Founder
Neil Petch, Chairman and Co-Founder of Virtuzone, likewise highlighted the growth potential of Web3 companies and expressed a shared vision with the UAE government to foster 10 unicorns by 2030.
Echoing Petch’s sentiment, George Hojeige, Group CEO of Virtuzone, further emphasized the project’s commitment to nurturing Web3 startups and establishing itself as a key supporter of the tech in the region.
