DWF Labs Renews Collaboration with DMCC to Propel MENA Blockchain Ecosystem Forward
Luisa Crawford Apr 16, 2024 12:41
DWF Labs, a leading research organization, has announced the renewal of its partnership with DMCC, the world's flagship free zone and Government of Dubai Authority on commodities trade and enterprise. This collaboration aims to drive innovation and growth within the MENA region's blockchain ecosystem, with a focus on supporting early-stage startups and providing access to global venture capital.
DWF Labs is committed to investing in 50 startups operating in the web3 space, with a significant investment of USD $500,000 reserved for the most promising business. The partnership builds upon the foundation laid by the previous agreement, which included the establishment of a $5 million growth platform for Web3 businesses at the DMCC Crypto Centre.
The collaboration centers around the DWF Venture Studio, which offers a range of benefits to startups based in DMCC, such as consultancy services, market-making services on tier one and two exchanges, and workshops. The DMCC Crypto Centre serves as a comprehensive ecosystem for companies developing Web3 and blockchain technologies, with 600 businesses currently operating in the space, making it the highest concentration of crypto firms in the region.
With TOKEN2049 Dubai on the horizon, DWF Labs is preparing to showcase the transformative opportunities available within the MENA blockchain landscape. Startups and entrepreneurs are encouraged to join the DMCC Crypto Centre and leverage the resources and support provided by the DWF Venture Studio.
Andrei Grachev, Managing Partner at DWF Labs, expressed excitement about the partnership renewal, stating, "We are excited to renew our partnership with DMCC and continue our mission of driving innovation and growth within the MENA blockchain ecosystem. As we prepare for TOKEN2049 Dubai, we encourage startups and entrepreneurs to join us in harnessing the potential of the DMCC Crypto Centre and the DWF Venture Studio."
Image source: Shutterstock