PolkaPort East has been granted a grant from Web3 Foundation, the organization fostering the expansion of the Polkadot ecosystem. The Decentralized Futures (DF) grant aims to drive technical, community, and wider ecosystem adoption while assisting in the further decentralization of Polkadot.
Leading Polkadot’s growth strategies and investor relations, with a focus on Hong Kong and the Greater Bay Area, is PolkaPort East, an autonomous organization. The Web3 Foundation’s DF grant is the first of its kind to be given to an Asian organization.
The grant will help PolkaPort East achieve its objectives of spearheading Polkadot’s regional expansion and investor connections. Its purpose also includes serving as a major regional capital driver into the ecosystem and promoting Polkadot and its technology.
Max Rebol, co-founder of PolkaPort East and CEO of Harbour Industrial Capital, a Polkadot-focused VC fund, said:
“The launch of PolkaPort East comes at a crucial moment for Polkadot. It represents a critical step towards increasing the network’s decentralization while strengthening the ecosystem’s strategic position in Hong Kong. Thibault Perréard, also a co-founder who heads up strategy for Bifrost, a leading Polkadot parachain added: “With the support of the DF grant, PolkaPort East will be tapping into the thriving innovation hubs of Hong Kong and the Greater Bay Area while engaging and fostering relationships with local governments, global enterprises and capital allocators of the region.”
David Hawig, Director of Ecosystem at Web3 Foundation said:
“The Web3 Foundation is thrilled to support the Polkaport East initiative through a Decentralized Futures grant. This project exemplifies our commitment to fostering decentralized access and innovation within the Polkadot ecosystem. We believe Polkaport East will play a pivotal role in enhancing connectivity and empowering the community in Hong Kong, driving forward the vision of a truly decentralized internet.”
After receiving the DF grant, Vincent Chan, the third co-founder of PolkaPort East and a former employee of Parity Technologies, clarified that the initiative’s goal is to draw users to the Polkadot ecosystem throughout Asia. These include generic web3 investors, Polkadot-native VCs, funds, and capital allocators, as well as projects and developers aiming to expand on Polkadot. Additionally, it will target fintechs looking to enter web3, local governments investigating the application of blockchain technology, and Asian university blockchain collectives and associations.