A consortium of Swiss investors launched …
Consortium of Swiss Investors Launches $ 100 Million Blockchain Incubator
Swiss consortium Crypto Valley Venture Capital (CV VC) has launched a blockchain incubator aimed at raising $ 100 million, swissinfo.ch reported on September 20.
The incubator was named Genesis Hub and is located in the canton of Zug, which is also often called the “Swiss crypto valley”. The Crypto Valley Association was founded in March 2017 as a government-backed consortium to “support the development of blockchain and crypto technology and companies.”.
At the moment, the incubator has 20 blockchain startups, but it is planned to finance another 60 companies during the year. Approved startups will receive $ 125,000 each and complete a 3-month business launch program, while the most successful projects at later stages of development will receive additional funding. In addition, startups will receive help and mentoring support from the consortium’s technology consultants..
The long-term goal of the incubator is to open doors for 1,000 blockchain companies from all over the world every year. In response, these startups will have to give CV VCs up to 8% of their business interest in promotions or digital tokens.
CV VC’s ambitious plans also include the creation of similar incubators in other countries in the coming years and the development of a global network. According to the founder of CV VC Matthias Ruch, “blockchain technology is a global phenomenon, so we could expand around the world.”.
Moreover, Rukh believes that initial coin offerings (ICOs) and initial public offerings (IPOs) will help create a new model for financing young companies. This position is shared by Vasily Suvorov, CV VC Advisor and Vice President of the Crypto Valley Association: “ICOs will remain a useful mechanism, but now they will not only feed the blockchain economy. The ICO hype has come to naught, and now we need a model that would embody all these wonderful technological ideas in a real economy “.
Switzerland ranks second in the ranking of the “most preferred” countries for ICOs, according to a study conducted in July by analysts associated with the Crypto Finance conference. Using publicly available data, the researchers created a list of the top 100 initial coin offerings that raised the most funds, and then ranked the countries that hosted the most ICOs out of the 100..
Investors file a second lawsuit against Bitconnect Another class action lawsuit is directed against the UK branch of the Bitconnect cryptocurrency scheme, this time from…
Kraken invites investors to purchase their shares in the amount of $ 1,000 or more Kraken cryptocurrency exchange on Monday evening sent a letter to its clients,…
Investors sued BitConnect for $ 770,000 On Wednesday, a lawsuit was filed against BitConnect in the Southern Federal District of Florida, the authors…
The media has learned about the delay in the launch of the Filecoin mainnet caused by the conflict with investors The company behind the development of the Filecoin blockchain project…
The first DLC contract was launched on the bitcoin network for the implementation of complex use cases.In the main bitcoin network, the first contract was launched like…