Cardano Is Launching a New Project to Expand the Ecosystem Faster

Cardano is expanding its ecosystem

Input Output Global’s Project Catalyst has launched Ariob, an incubator scheme, in collaboration with iceaddis, a pan-African business incubator, and accelerator. Ariob means ‘a collection of starts’ in Ge’ez, an ancient Semitic language of Ethiopia.

This strategic partnership is designed to enhance the growth of projects funded by Project Catalyst, Cardano’s innovation engine, and offers high potential Catalyst start-ups access to venture-building expertise and resources to help develop products that solve real-life challenges in Africa.

Last year, Input Output Global (IOG) announced its partnership with the Ethiopian Ministry of Education to provide five million Ethiopian students with a way to verify their academic credentials using Atala PRISM technology, built on Cardano. IOG is also working with World Mobile in Zanzibar to connect the unconnected and enable access to essential online services through blockchain technology.

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Project Catalyst, mentorship, and incubation

Project Catalyst is now one of the largest decentralized innovation funds. It is a focal point for ecosystem development and innovation, driven by the Cardano community. With each funding round, the community presents challenges across a range of subjects related to Cardano. These challenges are then answered by the community who present project proposals defining solutions and clear plans. The community then votes on the proposals presented and selects projects to receive funding.

Catalyst enables people to realize great ideas and implement them, but funding is only part of the journey towards success. Other factors, such as education, mentorship, collaborations, and product roadmap development are also needed to nurture projects and help them formalize a business plan and effective go-to-market strategy.

The first entrepreneurship program, to achieve Catalyst funding entitled ‘BoostCamps’, used the Entreprenerdy platform where participating projects could take part in sessions designed to develop their business strategy. Fund7 is the latest round, with an Accelerator & Mentor Challenge. Twelve projects will be funded to create programs and tools to support businesses being built on Cardano.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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