Filipino Web3 startups gain global platform

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The DFINITY Foundation, a prominent Swiss nonprofit specializing in blockchain research, has launched the Olympus acceleration platform to advance global Web3 initiatives.

The pioneering on-chain ecosystem supports the development and launch of Web3 products through grants, crowdfunding, venture capital investments, and extensive networking opportunities.

Aimed at promoting decentralization and innovation, Olympus will operate its first series of accelerator programs in over 40 countries. Notably, the initiative includes a $15 million grant from DFINITY and the ICP Asia Alliance to support its initial operations.

In the Philippines, ISLA Camp (ICP Hub Philippines) will lead local acceleration efforts, focusing on elevating Filipino-led Web3 projects. Nelson Lumbres, co-founder of ISLA Camp, highlighted the platform’s potential to introduce Filipino projects and entrepreneurs to the global stage.

Participants in the Olympus program will benefit from mentorship and investment opportunities from top global venture capital firms such as Fenbushi Capital, Fundamental Labs, and Softbank Vision Fund, among others.

Dominic Williams, Founder and Chief Scientist of the DFINITY Foundation, expressed enthusiasm about supporting the next generation of Internet Computer and other ecosystem projects through Olympus.

By the end of 2024, Olympus is set to transition into a decentralized autonomous organization (DAO), sustained by a native token generation event and community-led fundraising.

Developers interested in joining the Olympus platform can submit their projects at www.dfinity.org.