Crypto Valley Venture Capital initiates investment strategy to build blockchain accelerator for African startups
African blockchain disruptors and early-stage startups have joined CV Labs Global Incubation Program Batch_03. The African contingent of incubatees is reflective of Crypto Valley Venture Capital’s (CV VC) global investment strategy, to invest in blockchains’ wider applicability to solving problems and creating new markets.
The incubation program is a precursor to CV VCs’ public-private partnership with the Swiss State Secretariat for Economic Affairs (SECO), which intends to see CV VC build the first-ever, blockchain-focused Accelerator for Africa. The goal of this Accelerator is to invest in 100 startups from the African continent over the next 4 years. This Accelerator will focus on such startups that work across Supply Chain, Healthcare, Fintech, and Government sectors.
Véronique Haller, Deputy Head of Mission, Embassy of Switzerland to South Africa: ''Since 15 years, Switzerland and South Africa have been enjoying an intense collaboration in education, research, and innovation. The first exchange between actors from both our countries using blockchain solutions to tackle real-world issues was initiated in 2019. Switzerland, through its State Secretariat for Economic Affairs (SECO), is funding the «Blockchain ecosystem in South Africa project, to promote innovative private sector initiatives - the idea is to kick-start the process to attract further investors and blockchain actors into the initiative. It will also allow Swiss knowledge, expertise, and experience in blockchain to contribute to the development of the South African and African blockchain ecosystems.''
In addition, the Swiss State Secretariat for Education Research and Innovation (SERI) and the South African Department of Science and Innovation are actively pursuing research instruments for example joint projects, a research chair, and academia exchanges as part of the blockchain ecosystem.
CV Labs has already incubated 22 successful global tech teams’ pathways to success. As the incubation arm of Crypto Valley Venture Capital (CV VC), CV Labs is the heartbeat of Crypto Valley, Europe’s leading blockchain ecosystem which is already home to 12 unicorns and nearly 1000 blockchain businesses. CV Labs Incubation Batch_03 will be nurtured by this ecosystem, systemically and organically.
The beginning of this was ‘Africa Week’ where CV VC partnered up with Binance Smart Chain, the University of Johannesburg, and The Cape Innovation and Technology Initiative. CV VC and the start-ups travelled to both Cape Town and Johannesburg to spend a whole week working with its new batch of incubatees:
- Mazuma- international remittance and mobile money (Ghana)
- HouseAfrica- Digital Property Validation System (Nigeria)
- Pravica - decentralized communication suite for enterprises (Egypt)
- Carmachain- p2p data marketplace for the unbanked (Nigeria)
Gideon Greaves, Managing Director, CV VC Africa: ''I am delighted to see the evolving fruition of our project with SECO which aims to support the development of an independent ecosystem in Africa by transferring know-how and experience from Switzerland’s Crypto Valley to serve as a similar hub for Africa. We have had tremendous success since our launch and Africa is excited! We have received more applications from African start-ups than from the rest of the world. I believe Africa is teaching us about the true use cases of blockchain and the opportunity it presents for greater inclusion.''
Resultant of its recent internationalization in Africa and Dubai, CV Labs has deepened its Incubation Program capacity to nourish a zealous entrepreneurial environment in which blockchain tech teams are equipped to transform the way the world works, interacts, and transacts. All participants receive an investment of up to $125,000 and an intensive incubation program that delivers four blocks of learning, over three months. Besides the four African incubatees, the new batch includes BlockFrauds (UK) and CO2DAO (Switzerland).