Cardano Ecosystem Accelerator to Support Startups in Africa, Southeast Asia

Cardano’s ecosystem accelerator Adaverse has revealed plans for its 2023 vision.

According to a recent press release, the company hopes to focus on helping startups in Africa, Southeast Asia, and other regions benefit from the dividends of the prosperous Cardano ecosystem.

Adaverse noted that it has strong brand recognition in Africa and Asia. However, the company hopes to expand its business scope by exploring untapped territories in Southeast Asia, especially Thailand and Vietnam.

Adaverse said it would support the development of Web3 infrastructure for remittance payments in these regions.

Adaverse’s Support for Africa & Asia 

It is worth noting that Adaverse is a major beneficiary of EMURGO’s and IOG’s business and technical resources, which has helped the company to establish itself as Cardano’s official accelerator for Africa.

Through the partnership, Adaverse has gained unparalleled access to the Cardano ecosystem, which it uses to support investment partners and portfolio companies.

Thanks to its structure, Adaverse has expanded beyond Cardano and synthesized Asian expertise with Africa’s web3 development.

It disclosed plans to invest between $100K and $300K in startups through Seed and Serie A. Aside from financial support, Adaverse also offers technical, strategic, and operational expertise to accelerate firms’ growth through project development, tokenomics design, roadmap creation, etc.

Adaverse’s extensive network grants startups quick access to Cardano’s ecosystem, with an emphasis on liquidity support. Per the announcement, Adaverse has invested in over 35 startups across ten countries over the past year.

These startups cut across different sectors, including metaverse, NFTs, exchanges, Web3, gamefi, etc.

“Adaverse’s aim to connect Africa with Asia through the Cardano ecosystem is based on the belief that developing countries lacking financial tools, such as Africa, Asia, and Latin America, represent both a challenge and an opportunity,” the company said in a statement.

Driving Cardano Adoption in Africa 

Meanwhile, Cardano has been serious in driving blockchain adoption in Africa, from launching Adaverse. This company supports African crypto projects, hosting campaigns to promote Cardano and ADA awareness among African entrepreneurs. 

Last year, Adaverse participated in a seed funding round for Afriguild, a blockchain-based company focused on providing opportunities for Africans through gaming and education. 

In a similar development, Adaverse invested in a Nigerian-based gaming technology company, Diagon Studios. Additionally, the team behind the Cardano Blockchain Founders Hangout (BFH) held multiple conferences in Abuja, Nigeria’s capital, to drive Cardano’s awareness.