The Ethereum layer-2 protocol, Lisk, has announced a significant milestone with the successful completion of its first cohort of the Blockchain Incubation Hub training program, which saw 23 African startups graduate. Following this achievement, Lisk is now accepting applications for the second cohort, set to commence on May 19, 2025.
Throughout the inaugural program, a total of $196,000 in grants was distributed among the participating startups, which have collectively made remarkable strides in the market. These startups have attracted over 26,000 users, tokenized assets worth $1.8 million, and facilitated more than 20,000 blockchain transactions, showcasing their potential and impact.
The first cohort has already made a notable difference across various sectors in Africa, with standout graduates driving transformative changes in areas such as agriculture, finance, and entertainment. Lisk highlighted several exemplary projects from this cohort:
- Tata-iMali (South Africa): This initiative aims to bridge the gap between South Africa’s informal and formal economies by providing a fiat-backed stablecoin. This solution enables seamless transactions for small businesses and individuals, enhancing financial inclusion.
- TrendX (Nigeria): A comprehensive tokenization platform that integrates Decentralized Autonomous Organizations (DAOs), token management, and compliance solutions tailored for blockchain-based businesses, TrendX is paving the way for innovative business models.
- PokeCoin (South Africa): This blockchain-based NFT marketplace focuses on secure trading of Pokémon cards, utilizing smart contracts to verify authenticity and quality, thereby ensuring a trustworthy trading environment for collectors.
- NomaChain (Kenya): NomaChain is revolutionizing homeownership in Africa through a blockchain-powered rent-to-own model, having successfully tokenized $1.8 million in property plans, making homeownership more accessible.
- Jamit (Nigeria): A decentralized podcast platform, Jamit offers NFT-driven monetization and audience engagement tools for storytellers, empowering creators to connect with their audiences in new and innovative ways.
- Afrikabal (Rwanda): This project is transforming the agricultural landscape by connecting farmers with wholesalers and providing blockchain-backed trade finance solutions, fostering sustainable growth in the sector.
Dominic Schwenter, COO of Lisk, emphasized the importance of supporting builders in high-growth markets like Africa, stating;
For a long time, Web3 companies have not prioritized builders in high-growth markets like Africa, limiting their access to capital, mentorship, and support despite the abundance of talent. This is now changing with the launch of more incubation hubs and grant programs. I’m more confident than ever that Africa and other high-growth markets will drive innovation and scale blockchain solutions, benefiting their communities and the world at large.
With applications now open for Batch 2 of the Lisk Incubation Hub, there are exciting new opportunities for Web3 builders in Africa. The program offers up to $20,000 in grants per project upon graduation, along with continuous mentorship, a structured curriculum, and access to a robust network designed to help startups thrive.
Participants will also benefit from ongoing support from Lisk and the chance to secure up to $100,000 in additional funding to scale their ventures. The application window for this new cohort will close on April 12, 2025, making it an opportune time for aspiring entrepreneurs to engage with this innovative program.
Interested parties can apply here.
