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Hashgraph and Qatar Join Forces: $50 Million Venture Studio to Fuel Web3 Innovation

The Hashgraph Association (THA) and the Qatar Financial Centre (QFC) are joining hands to launch a $50 million Digital Asset Venture Studio in Doha. This initiative aims to accelerate the development of compliant DeFi solutions and digital assets built on the Hedera network.



A Hub for Innovation

  • The Venture Studio will provide funding and support to startups over the next five years, with Hashgraph contributing $10 million to the pool.

  • This initiative aligns with Qatar's National Vision 2030, which emphasizes technological advancement.

  • The studio will be housed within the QFC Innovation Dome's Qatar Digital Asset Lab, fostering a collaborative environment.



Building on Success

  • This partnership follows THA's collaboration with the Saudi Ministry of Investment on a $250 million DeepTech Venture Studio focused on emerging technologies.


Quotes

  • Stefan DEISS, THA co-founder and CEO, highlights the empowering nature of the Venture Studio for aspiring Web3 entrepreneurs in both Qatar and Switzerland.

  • An entrepreneur exchange program facilitated by the canton of Schwyz will enable cross-border collaboration.

  • THA plans to launch a sandbox environment for testing and refining use cases leveraging Hedera technology.


This venture studio marks a significant step towards fostering a thriving Web3 ecosystem in Qatar, powered by the security and scalability of the Hedera network.



Source: CryptoNews

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