SuiHub, a newly created global accelerator, will provide investment up to $200,000 to blockchain businesses in the Middle East and North Africa (MENA) area. The Sui Foundation and its partners support the initiative, which aims to assist teams in developing pre-token minimum viable products (MVPs) that align with the capabilities of the Sui blockchain.
Startups chosen for the 12-week accelerator will receive cash based on important development milestones. Participants will also receive technical and marketing support, allowing them to develop and refine their blockchain solutions. In exchange, SuiHub will acquire an equity position in the projects concerned.
SuiHub, which focuses on MENA, aspires to build a healthy ecosystem for blockchain innovation. Sui and the Ghaf Group, a Dubai-based organization that specializes in Web3 investments, collaborated to create the accelerator. Another partner, Ghaf Studios, will provide strategic guidance on fundraising, marketing, and tokenomics, as well as a comprehensive resource bundle for participants.
SuiHub has also teamed with Brinc, a venture capital firm that will provide advice on business development and alliances. The initiative will also collaborate with CoinList, a token listing platform that will organize a workshop and promote it to its enormous user base.
Applications for the accelerator program are open until December 20, 2024, and chosen teams will be able to collaborate with regional and worldwide specialists to advance their initiatives.
Since its inception in May 2023, the Sui blockchain has expanded swiftly, executing more than 4.58 billion transactions by September 2024. The network’s high-speed transactions and scalability provide an excellent foundation for the accelerator’s emphasis on real-world, scalable blockchain solutions.
