Mantra Launches Incubator At Dubai World Trade Centre
July 14, 2024
Business Web 3.0

Mantra Launches Incubator At Dubai World Trade Centre

In Collaboration With Virtuzone

Mantra, a leading player in the Real World Asset (RWA) tokenisation sector, has unveiled its latest initiative, the inauguration of an incubation programme at the Dubai World Trade Centre (DWTC).

This announcement follows an $11 million funding round spearheaded by Shorooq Partners, underscoring Mantra’s commitment to fostering innovation in the MENA region.

The Mantra Incubator programme, in collaboration with Virtuzone, a top corporate service provider in the UAE, aims to nurture emerging projects within the Mantra ecosystem and the broader RWA domain.

The initiative offers a comprehensive support package encompassing financial assistance, infrastructure provisions, licensing, banking services, and administrative support.

Five standout projects have been chosen for the incubator programme following a rigorous selection process.

$100,000 Seed Investment

Each selected venture will receive a seed investment of $100,000, funded by Mantra’s founder and CEO, John Patrick Mullin. Mullin’s investment underscores his dedication to the success of the programme and the startups involved.

Moreover, the programme offers the invaluable guidance of seasoned project managers, access to a robust network of investors, and opportunities to forge strategic partnerships.

This multifaceted approach aims to provide the chosen startups with the necessary tools and connections to thrive within the Mantra ecosystem.

The selected projects’ journey will commence in Hong Kong, the bustling tech hub, where teams will immerse themselves in a month-long programme designed to foster innovation and collaboration.

Subsequently, the journey will take them to San Francisco for another month of exposure to cutting-edge practices and industry leaders.

Finally, the teams will be stationed at the DWTC, a global platform epitomising Dubai emirate’s status as a hub for crypto innovation.

Incubation Space

The incubation space in the Sheikh Rashid Tower at DWTC is over 17,000 square feet and is located within the Maktabi business centre.

This state-of-the-art facility reflects Dubai’s commitment to fostering a vibrant startup ecosystem and aligns with Mantra’s vision for facilitating technological innovation.

John Patrick Mullin, CEO and Co-Founder of Mantra emphasised the programme’s holistic approach to fostering innovation in the web3 space.

“We’re not just providing workspace; we’re building a platform that offers resources, networks, and a nurturing environment for promising companies to thrive,” Mullin remarked.

Neil Petch, Chairperson and Co-Founder of Virtuzone, echoed Mullin’s sentiments, emphasising the growth potential of web3 companies and the UAE’s ambition to cultivate a thriving tech ecosystem.

George Hojeige, Group CEO of Virtuzone, underscored the collaborative effort between Mantra and Virtuzone in supporting web3 startups and driving innovation in the MENA region.

The launch of the incubator programme marks a significant milestone for Mantra as it continues to expand its ecosystem and empower developers to create RWA-focused protocols on the Mantra Chain.

With its strategic partnerships and commitment to innovation, Mantra is poised to play a pivotal role in shaping the future of the RWA tokenisation sector.

Mantra is a security-first RWA Layer 1 Blockchain designed to facilitate real-world asset tokenisation while adhering to regulatory requirements.

As a permissionless chain, Mantra enables developers and institutions to participate seamlessly in the evolving RWA tokenisation space by offering advanced technology modules, compliance mechanisms, and cross-chain interoperability.

Following the successful launch of the public testnet in November 2023, Mantra has embarked on its next development phase by introducing the incentivised testnet, Hongbai.

The incubation programme represents a pivotal step in Mantra’s strategic roadmap, empowering developers to innovate and expand the Mantra ecosystem.

    Arnold Pinto

    Arnold Pinto

    Arnold Pinto is an award-winning journalist with wide-ranging Middle East and Asia experience in the tech, aerospace, defence, luxury watchmaking, business, automotive, and fashion verticals. He is passionate about conserving endangered native wildlife globally. Arnold enjoys 4x4 off-roading, camping and exploring global destinations off the beaten track.
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