Abu Dhabi, UAE, 20th February 2023, Chainwire
Venom Foundation, the first Layer-1 blockchain licensed by Abu Dhabi Global Market (ADGM), has partnered with Hub71, Abu Dhabi’s global tech ecosystem, to provide startups with enterprise-grade solutions and simplify blockchain adoption for businesses.
The Collaboration between Venom Foundation and Hub71 will focus on accelerating the growth and adoption of blockchain technologies in the Middle East and North Africa (MENA) region and beyond. Venom Foundation will work closely with Hub71+ Digital Assets, Hub71’s dedicated Web3 and Digital Assets specialist ecosystem, to help startups and enterprises with business development, digital asset regulation, blockchain adoption, and related technologies.
The Venom-Hub71 Collaboration was brought together by Iceberg Capital, the regulated investment manager based in ADGM. It will further leverage its network and expertise to assist the parties in reaching their common objectives.
To raise industry standards for incubation, acceleration, and grant programs, Venom Foundation will deploy its expertise and know-how in venture capital, venture building, and technology to support startups to grow and scale from Hub71+ Digital Assets. Additionally, startups and established businesses will benefit from using the Venom blockchain to transition from Web2 to Web3 successfully.
As part of the partnership, Venom, and Hub71 will also work together to onboard local and international startups to Hub71+ Digital Assets. By joining the specialist ecosystem, startups can engage and collaborate with various partners and leading Web3 entities to accelerate the transition toward disruptive blockchain technologies. Startups will also benefit from Hub71’s value-add programs and incentives.
Peter Knez, Chairman of the foundation council at Venom Foundation, commented: “Collaboration is the key to unlocking the full potential of emerging technologies. We are proud to have struck such a great collaboration here in the financial heart of Abu Dhabi. By working together, we can build a better future for businesses and communities, from Abu Dhabi to the world.”
Elodie Robin Guillerm, Head of Growth and Strategy at Hub71, said: “We are excited to collaborate with Venom Foundation to help startups in the MENA region develop and scale Web3 technologies from Abu Dhabi. By bringing together leading industry experts and players such as Venom Foundation, Hub71+ Digital Assets is accelerating the growth of disruptive businesses and creating commercialization and investment opportunities for founders.”
Startups onboarded to Hub71+ Digital Assets will also gain access to Venom’s infinitely scalable blockchain architecture and a team of highly skilled specialists that will help them build their Web3 solutions.
Mustafa Kheriba, the Executive Chairman of Iceberg Capital, said: “We are pleased with this promising partnership between Venom Foundation and Hub71, and we are confident that this partnership shall be very beneficial for the development of Web3 technologies throughout the region. Iceberg will leverage its expertise in helping both parties achieve their shared objectives.”
The Venom blockchain is an asynchronous chain that uses a state-of-the-art dynamic sharding technology while maintaining decentralization, scalability, and security.
Venom Foundation provides the essential infrastructure enabling startups to grow in allowing startups to grow in a regulated and scalable environment. The Foundation’s primary focus is on technologies in the MENA region that provide easy and secure migrations to Web3 for private and public organizations and governments while also handling massive transaction volumes with no increase in network latency or costs.
Hub71’s vibrant community comprises over 200 startups operating in 20 economic sectors. Founded on the values of partnership and colCollaborationub71 connects entrepreneurs with impact-driven investors and corporates and supports them with scaling their businesses and accessing global markets.
About Venom Foundation
Venom is the first licensed blockchain operating under the jurisdiction of the ADGM, with a license to issue utility tokens. The ADGM is an oasis for investors and financial services firms, positioning Venom as the world’s first compliant blockchain, affording authorities and enterprises the freedom to build, innovate, and scale. Various companies have developed multiple companies have developed a portfolio of in-house dApps and protocols on the Venom blockchain. It now harbors the potential to become a bridge for adopting CBDCs in the Middle East, North Africa, and worldwide.
About Iceberg Capital
ICEBERG Capital Limited is regulated by FSRA as a Prudential Category 3C investment manager based in ADGM. ICEBERG Capital is a fast-growing alternative asset management company that provides diversified investment management platforms, including direct and private equity, venture capital, technology, and virtual assets. ICEBERG Capital offers traditional asset management services such as investment portfolios in local and international markets, financial instruments (equities, ETFs, commodities, derivatives, etc.), and specialized securities and blockchain technology platforms.
Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to international markets, a capital ecosystem, a worldwide network of partners, and a vibrant community filled with highly skilled talent governed by forward-thinking regulation.
Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors. Through Hub71’s entrepreneurial infrastructure, value-add programs, enabling services, and support packages, founders can build and scale widely adopted technologies with purpose and impact. Hub71 aims to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nation’s continuous economic development. For more information, visit Hub71 and follow us on @Hub71AD #Hub71.