Nov 21, 2024
6thTrade
Startups building on the Sui blockchain now have a significant opportunity to scale their projects through the newly launched SuiHub Global Accelerator Program. Spearheaded by the Sui Foundation in partnership with key collaborators, the program offers up to $200,000 in funding along with technical and marketing support for teams developing pre-token minimum viable products (MVPs).
A 12-Week Accelerator with Real-World Focus
The program is designed as an intensive 12-week initiative aimed at fostering innovative projects that align with the capabilities of the Sui blockchain. Organizers are seeking startups that demonstrate real-world applicability and scalability, ensuring their ideas resonate with practical blockchain use cases.
Funding will be distributed based on the achievement of developmental milestones, ensuring participants stay focused on delivering measurable progress. Additionally, SuiHub will take an equity stake in each project admitted to the program, aligning interests in the long-term success of these ventures. $SUI
Expanding in the MENA Region
The accelerator places a strategic emphasis on the Middle East and North Africa (MENA) region. SuiHub, a collaborative venture between the Sui Foundation and Dubai-based Ghaf Group, aims to create a thriving ecosystem for Sui blockchain developers in this rapidly growing market.
Ghaf Studios, part of the initiative, will equip participants with critical resources such as fundraising strategies, marketing expertise, and tokenomics support, helping startups refine their business models and accelerate their go-to-market plans.
Kostas Chalkias, co-founder and chief cryptographer at Mysten Labs, which developed the Sui network, described the accelerator as more than just a development program:
“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 Partners Driving Growth
In addition to Ghaf Group, the program is backed by prominent global partners, including:
Brinc, a Hong Kong-based venture capital and accelerator firm, which will provide participants with business development support and partnerships.
CoinList, a token listing platform, which will hold workshops on token launches and offer exposure to its 10 million users, enhancing visibility for participating projects.
Application Deadline and Key Dates
The SuiHub Global Accelerator Program is now open for applications, with the deadline set for December 20, 2024. Selected participants will undergo an immersive program designed to equip them with the tools and resources needed to thrive in the competitive blockchain space.
About the Sui Network
Launched by Mysten Labs in May 2023, the Sui network is recognized for its high throughput and transaction speeds. By September 2024, the blockchain had achieved impressive adoption metrics, with over 18.19 million active accounts and more than 4.58 billion transactions processed.
Sui briefly held the record for the highest number of daily transactions on a layer-1 blockchain with 65 million transactions, before being surpassed by Aptos, which achieved 115.4 million transactions in May.
Both Sui and Aptos utilize the Move programming language, originally developed for Meta’s Diem project and later open-sourced following Diem’s discontinuation.
With its strong technical foundation and a global accelerator initiative, Sui is positioning itself as a key player in the blockchain ecosystem, enabling startups to bring innovative solutions to life.
