Venom Foundation and Hub71 partner to accelerate growth and adoption of blockchain technologies from Abu Dhabi

by Arthur · February 20, 2023

Abu Dhabi, UAE, 20 February 2023, Chainwire

Venom Foundation, the first Layer-1 blockchain licensed by Abu Dhabi Global Market (ADGM), has joined forces with Hub71, Abu Dhabi’s global technology ecosystem, to provide startups with enterprise-class solutions and facilitate blockchain adoption for businesses.

The collaboration between the Venom Foundation and Hub71 will focus on accelerating the growth and adoption of blockchain technologies in the Middle East and North Africa (MENA) and beyond. Venom Foundation will work closely with Hub71+ Digital Assets, Hub71’s dedicated Web3 and Digital Assets specialist ecosystem, to help startups as well as enterprises with business development, digital asset regulation, blockchain adoption and related technologies.

The Venom-Hub71 collaboration was brought together by Iceberg Capital, the regulated investment manager based in ADGM, which will further leverage its network and expertise to help the parties achieve their shared goals.

With a goal to raise the industry standards for incubation, acceleration and grant programs, Venom Foundation will deploy its expertise and knowledge in venture capital, venture building and technology to support start-ups to grow and scale from Hub71+ Digital Assets. In addition, startups and established businesses will be able to benefit from the use of the Venom blockchain to successfully transition from Web2 to Web3.

As part of the partnership, Venom and Hub71 will also work together to integrate local and international startups into Hub71+ Digital Assets. By joining the specialized ecosystem, startups will be able to engage and collaborate with a variety of partners and leading Web3 entities to accelerate the transition towards disruptive blockchain technologies. Startups will also benefit from Hub71’s value-added programs and incentives.

Peter Knez, Chairman of the Board of Trustees at the Venom Foundation, commented: “Collaboration is the key to unlocking the full potential of new technologies. We are proud to have achieved such great collaboration, here in the economic heart of Abu Dhabi. By working together we can build a better future for businesses and communities, from Abu Dhabi to the world.”

Elodie Robin Guillerm, head of growth and strategy at Hub71, said: “We are delighted to partner with the Venom Foundation to help startups in the MENA region develop and scale Web3 technologies from Abu Dhabi. By bringing together leading industry experts and players like the Venom Foundation, Hub71+ Digital Assets accelerates the growth of disruptive businesses and creates commercialization and investment opportunities for entrepreneurs.”

Startups onboard Hub71+ Digital Assets will also gain access to Venom’s infinitely scalable blockchain architecture and a team of highly skilled specialists who will help them build their Web3 solutions.

Mustafa Kheriba, Executive Chairman of Iceberg Capital, said: “We are excited about this promising partnership between the Venom Foundation and Hub71, and we are confident that this partnership will be highly beneficial for the development of Web3 technologies throughout the region. Iceberg will leverage their expertise to help both parties achieve their mutual goals.”

The Venom blockchain is an asynchronous chain that uses a state-of-the-art dynamic slicing technology while maintaining decentralization, scalability and security.

The Venom Foundation provides the essential infrastructure that enables startups to grow within a regulated and scalable environment. The foundation’s primary focus is on technologies in the MENA region that provide easy and secure migrations to Web3 for both private and public organizations and governments, while handling massive transaction volumes without increases in network latency or costs.

Hub71’s vibrant community consists of over 200 startups operating in 20 economic sectors. Founded on the values of partnership and collaboration, Hub71 connects entrepreneurs with impact-driven investors and businesses and supports them to scale their businesses and access global markets.

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About the Venom Foundation

Venom is the first licensed blockchain operating under ADGM’s jurisdiction, licensed to issue utility tokens. A haven for investors and financial services firms, ADGM positions Venom as the world’s first interoperable blockchain, giving governments and businesses the freedom to build, innovate and scale.

A portfolio of internal dApps and protocols have been developed on the Venom blockchain by various companies. It now has the potential to become a bridge for the adoption of CBDCs in the Middle East, North Africa and worldwide.

For more information, visit: Website | Twitter

About Iceberg Capital

ICEBERG Capital Limited is regulated by the FSRA as a Prudential Category 3C investment manager based in ADGM. ICEBERG Capital is a rapidly growing alternative asset management company offering diversified investment management platforms that include direct and private equity, venture capital, technology and virtual assets. ICEBERG Capital also offers traditional asset management services such as investment portfolios in local and international markets, financial instruments (shares, ETFs, commodities, derivatives, etc.), as well as specialized platforms for securities and blockchain technology.

For more information on Iceberg Capital, visit: Website | LinkedIn

About Hub71

Hub71 is Abu Dhabi’s global technology ecosystem that enables founders to build globally lasting homegrown technology companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners and a vibrant community filled with highly skilled talent, driven by the future – thought regulation.

Supported by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government and corporate partners to ensure the availability of investments, commercial activities and incentives from the public and private sectors. Through Hub71’s entrepreneurial infrastructure, value-added programs, enabling services and support packages, founders can build and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, find new ways to build globally lasting technology companies and sustain the nation’s continuous economic development. For more information visit www.hub71.com and follow us @Hub71AD #Hub71.

For more information, visit: Website | Twitter | LinkedIn