Startups working on the Sui blockchain can get a boost from the newly launched SuiHub Global Accelerator Program. The Sui Foundation and its partners will provide up to $200,000, as well as technical and marketing support, to teams with pre-token minimum viable products.  

Organizers of the 12-week accelerator program are looking for projects with real-world applicability and scalability that are a good match for the Sui blockchain’s capabilities. Funding will be made available based on meeting milestones of development. SuiHub will take a stake in the projects admitted to the program.

Concentrating on MENA

SuiHub’s mission is “to create a home for Sui builders” in the Middle East and North Africa. It is a joint venture between Sui and the Ghaf Group, a Dubai-based private capital firm specializing in the Web3 space.

Its Ghaf Studios will provide accelerator participants with strategy support for fundraising, marketing and tokenomics. Mysten Labs co-founder and chief cryptographer Kostas Chalkias told Cointelegraph:

“The launch of our accelerator program marks a pivotal step in empowering the next wave of innovators. At SuiHub, we are not just building projects; we are fostering a thriving ecosystem where groundbreaking ideas meet unparalleled mentorship and resources.”

Mysten Labs is the developer of the Sui network.

Another partner in the accelerator is Brinc, a Hong Kong-based venture capital and accelerator firm that will provide partnership and business development support. Token listing platform CoinList will hold a token launch workshop with follow-up guidance and provide exposure to its 10 million users.

The application deadline for the program is Dec. 20.

Source: Brinc

Sui provides fast action

The Sui network was launched by Mysten Labs in May 2023. It features high throughput and transaction speeds; as of September 2024, it had over 18.19 million active accounts and had processed more than 4.58 billion transactions. 

Sui held the record for layer-1 blockchains of 65 million transactions in a single day until Aptos exceeded it with 115.4 million transactions in May.

Sui and Aptos use the Move programming language, which was designed for Meta’s Diem coin project and open-sourced after Diem was abandoned.

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