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DFINITY Foundation Launches $20M ICP Asia Alliance Web3 Incubator

2 mins
Updated by Kyle Baird
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In Brief

  • DFINITY Foundation launches ICP Asia Alliance and a $20 million grant fund to boost Asia-based blockchain and AI initiatives.
  • The Alliance aims to unite diverse stakeholders, fostering collaboration, education, and innovation in the web3 and AI ecosystem.
  • ICP has inaugurated several ICP.Hubs across Asia, playing a crucial role in promoting awareness and facilitating strategic partnerships.
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Hoping to catalyze the growth of Asia-based blockchain and AI initiatives, the DFINITY Foundation has unveiled the ICP Asia Alliance and a $20 million grant fund.

This strategic launch underscores Asia’s pivotal role in the global web3 ecosystem and ICP’s commitment to fostering growth in the region.

Asia Shows Strong Potential for Web3 Adoption

The DFINITY Foundation, a non-profit R&D organization, is a major contributor to the Internet Computer Protocol (ICP) web3 blockchain. The newly formed ICP Asia Alliance is poised to lead the vibrant web3 and AI ecosystem in Asia, primarily focusing on promoting the adoption of the Internet Computer blockchain.

All in all, the Alliance seeks to unite a diverse array of stakeholders, including government organizations, tech entrepreneurs, investors, universities, developers, and community members. In this way, it hopes to establish a robust platform for collaboration, education, and innovation.

Dominic Williams, Founder and Chief Scientist of the DFINITY Foundation, highlighted Asia’s significance in web3, stating,

“Asia has emerged as a pivotal region for the Internet Computer and the broader web3 ecosystem. Much of the early support and adoption for ICP and DFINITY originated from Asia, where some of the most talented ICP developers are based.”

Read more: A Comprehensive Guide to Starting a Career in Web3

In parallel with the emergence of Asia as a global hub for web3 and blockchain innovation, ICP has cemented its commitment to the region by inaugurating several ICP.Hubs across Asia. This includes Hong Kong, India, Malaysia, Philippines, South Korea, Indonesia, and Singapore.

These Hubs will also play a crucial role in fostering a thriving ICP community. At the same time, it aims to promote awareness and facilitate strategic partnerships and project acceleration.

Building in the West

Meanwhile, in the West, billionaire investor Tim Draper, along with Alon Goren and David Bleznak, launched Draper Goren Blockchain (DGB). The project is a venture studio aimed at accelerating web3, crypto, and blockchain startups, even amid bear markets.

Draper, a well-known Bitcoin bull and early investor in companies like Coinbase and Tesla, stated,

“It’s a cliche that bear markets are a time for builders to build, but that means there are incredible projects currently being developed that are in need of capital and support.”

US Web3 Blockchain Market. Source: Grand View Research
US Web3 Blockchain Market. Source: Grand View Research

The DGB team also plans to collaborate with web3 firms over the next decade. They are looking to invest between $25,000 and $100,000 in pre-seed startups.

This initiative, coupled with DFINITY’s Asia-focused efforts, signals a global push to advance the adoption of blockchain technology.

Top crypto projects in the US | April 2024
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