YEREVAN (CoinChapter.com) — The SuiHub Global Accelerator Program has officially launched, providing $200,000 in funding along with expert support to blockchain startups in the Middle East and North Africa (MENA) region. Furthermore, the program, supported by the Sui Foundation and its partners, seeks to attract scalable projects that align with Sui’s capabilities.
SuiHub Global Accelerator. Source: Suihub web Up to $200,000 for Promising Projects
The accelerator targets startups with pre-token minimum viable products (MVPs). Selected teams will receive up to $200,000, with funding linked to development milestones. Participants will also gain access to technical and strategic resources to advance their work.
In return, SuiHub will take equity in admitted projects, ensuring a collaborative approach toward building the blockchain ecosystem.
Strengthening Blockchain Development in MENA
SuiHub collaborates with the Ghaf Group, a Dubai-based Web3-focused capital firm, to enhance blockchain innovation across the region. Additionally, the program provides guidance through Ghaf Studios, focusing on fundraising, tokenomics, and marketing strategies.
Speaking about the initiative, Mysten Labs co-founder Kostas Chalkias emphasized its goal:
“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.”
Global Partnerships Expand Resources
Participants will also benefit from partnerships with global firms. Brinc, a venture capital and accelerator company, offers expertise in forming partnerships and navigating business challenges.
In addition, token listing platform CoinList will host a token launch workshop, providing tailored guidance and exposure to its 10 million users, enhancing visibility for participating projects.
Brinc Supports Startups. Source: X Application Deadline and SuiHub Program Timeline
Applications for the 12-week program will close on Dec. 20, 2024. Moreover, startups selected for the program will gain access to both regional and global expertise, as well as resources to support their development.
Sui Blockchain’s Rapid Growth
Launched in May 2023 by Mysten Labs, the Sui blockchain is designed for high-speed transactions and scalability. By September 2024, it had processed over 4.58 billion transactions and supported 18.19 million active accounts.
Sui Build Beyond. Source: Sui web
Notably, Sui previously held the layer-1 blockchain record with 65 million daily transactions, later surpassed by Aptos at 115.4 million transactions in May. Both use the Move programming language, originally developed for Meta’s Diem project.
Above all, the SuiHub Global Accelerator Program aims to solidify Sui’s presence in the MENA region while driving impactful blockchain development.
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