MANTRA Launches Incubator at Dubai World Trade Center

MANTRA Launches Incubator at Dubai World Trade Center 

MANTRA unveils its latest incubation initiative at the Dubai World Trade Center (DWTC), following an $11 million funding round led by Shorooq Partners. This program marks MANTRA's commitment to advancing the Real World Asset (RWA) tokenization sector, with a specific focus on the MENA region.

Established in collaboration with Virtuzone, a prominent corporate service provider in the UAE, the MANTRA Incubator program aims to foster and cultivate emerging projects within both the MANTRA ecosystem and the broader RWA sphere. MANTRA will offer financial backing to selected startups, covering development costs, infrastructure expenses, licensing, banking, and administrative services.

Carefully curated, five exceptional projects will join the incubator program, benefitting from comprehensive support to integrate seamlessly into the MANTRA Chain ecosystem. Each selected project will receive a seed investment of $100,000, sourced from MANTRA’s founder and CEO, John Patrick Mullin, underlining his personal commitment to the program's success. Additionally, the program provides dedicated project management support and access to an extensive network of investors, laying a robust groundwork for the startups' future growth and prosperity within the MANTRA ecosystem.

The incubation journey begins at MANTRA's offices in Hong Kong, offering a month-long immersion in the dynamic tech landscape. This is followed by a month in San Francisco, providing exposure to innovative practices and industry leaders. Ultimately, the teams will be based at the prestigious Dubai World Trade Center, offering a global platform to showcase their potential.

Situated in the Sheikh Rashid Tower at DWTC, the incubation space spans over 17,000 square feet within the Maktabi business center, aligning with Dubai's status as a hub for crypto innovation and complementing MANTRA's vision for a thriving startup ecosystem.

John Patrick Mullin, MANTRA's CEO and Co-Founder, underscores the program's holistic approach to innovation in the web3 space. "We are establishing a comprehensive platform for innovation, enabling promising companies to leverage resources, networks, and a nurturing environment within one of the most dynamic crypto landscapes worldwide," Mullin remarked.

Neil Petch, Chairman and Co-Founder of Virtuzone, highlights the growth potential of Web3 companies and emphasizes their commitment to supporting early movers in this space. "Our collaboration with MANTRA and this groundbreaking incubator project underscores our dedication to fostering a conducive environment for Web3 startups to flourish and scale exponentially," Petch stated.

George Hojeige, Group CEO of Virtuzone, echoes this sentiment, emphasizing their vision to pivot towards a tech-driven growth strategy and become a pillar of support for Web3 and fintech development across the region.

Sign up for the incubator here.

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