SuiHub Launches Global Accelerator with $200,000 in Funding for MENA Startups
Sui is on the lookout for groundbreaking and scalable projects to enrich its blockchain ecosystem. Enter the SuiHub Global Accelerator Program—a new initiative aimed at supporting startups leveraging the Sui blockchain. This program offers up to $200,000 in financial backing, alongside critical technical and marketing support for teams that have created a minimum viable product but haven’t yet issued a token.Empowering the MENA Startup Scene
Over the course of 12 weeks, the accelerator will focus on attracting projects that not only demonstrate practical applications but also exhibit strong growth potential in line with what the Sui blockchain can offer. Funding for participants will be released as they reach designated milestones, and SuiHub will acquire an equity stake in the projects selected for the program. One of SuiHub’s primary goals is to cultivate a nurturing environment for developers within the Middle East and North Africa. This initiative is a partnership between Sui and the Ghaf Group, a Dubai-based private capital firm with a keen interest in the Web3 landscape. Participating startups will gain invaluable insights in fundraising, marketing strategies, and tokenomics, all coordinated by Ghaf Studios. Kostas Chalkias, co-founder and chief cryptographer at Mysten Labs, announced that the launch marks a significant step forward in empowering the next wave of innovators. He noted that the program is dedicated to fostering not just standalone projects but also a vibrant ecosystem that thrives on outstanding mentorship and abundant resources. Mysten Labs plays a pivotal role in developing the Sui network. Additionally, Brinc—a venture capital firm and accelerator headquartered in Hong Kong—is joining forces with SuiHub to enhance business growth and partnership opportunities. Furthermore, participants can look forward to a workshop by CoinList, a renowned token listing platform, which will provide essential guidance on token launches and tips on boosting visibility among its vast audience of 10 million users.Sui: Accelerating Blockchain Innovation
The window for applications is open until December 20th, so aspiring participants should act swiftly. Launched in May 2023 by Mysten Labs, the Sui network has quickly gained traction thanks to its remarkable transaction speed and throughput capabilities. By September 2024, it boasted over 18.19 million active accounts and facilitated a staggering 4.58 billion transactions. Sui previously set an impressive record for layer-1 blockchains, executing 65 million transactions in a single day—a milestone that was later eclipsed by Aptos, which achieved 115.4 million transactions in May. Both Sui and Aptos employ the Move programming language, originally developed for Meta’s Diem project. After the cancellation of Diem, the language was released as open-source, enabling a new wave of innovation. “`htmlSource: Cointelegraph.com
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