BCW Ventures and the HBAR Foundation have together launched a Market Development Fund intending to accelerate the growth and development of the Hedera Network by onboarding early-stage startups that display a commitment to growth.
Market Development Fund will be led and managed by Kyle Baron and his team. Kyle Boren is the Managing Partner at BCW. The team will extend its expertise in Web3 infrastructure and experience in building scalable digital assets in the industry.
Additionally, BCW Ventures will identify, incubate, and develop initiatives related to Distributed Ledger Technology (DLT) solutions. The kind of projects that will remain in focus are:-
- Decentralized Finance
- Web3 Infrastructure
- Interoperability
- Metaverse, Non-Fungible Tokens & Gaming
Many more sectors will also be covered from the beginning or as time progresses. One thing the projects must have in common is that they have to be based on the next-generation utilization of a decentralized application.
While the collaboration for the launch of the Market Development Fund is a recent activity, BCW Ventures and Hedera have worked closely even before. A previous initiative of their collaboration is hashport, a public utility platform that enables the movement of digital assets between different networks. Moreover, BCW has sponsored the Hedera Hackathon since 2020.
Applicants will have a lot of benefits offered by the HBAR Foundation. For instance, applicants will be able to access the marketing expertise of the Foundation along with its dedicated technical expertise and operational support.
BCW Group is a consulting and technology firm focusing primarily on the fintech sector. BCW Group has established a strong mark in building products and businesses in the digital assets & DLT industry.
The group has experience constructing products in data analytics, blockchain interoperability, staking & IaaS tools, and tokenization. All the developments have been done while keeping the scalability of digital asset infrastructure in mind.
Enhancing the customer experience and removing the friction points are other two factors that the team has considered.
Features that make the group stand out in the market are its capability to reimagine and design digital commerce for the generations to come and to build applications that serve clients & businesses not just in the present but also in the future.
The HBAR Foundation was founded in 2021 to fuel the development and growth of the Hedera ecosystem.
Startups and ventures to collaborate with the Foundation mainly belong to the NFT, DeFi, or gaming sectors, among many others. The Foundation provides funding through a streamlined grant process and acts as an integrated force multiplier through external support.
BCW Ventures and the HBAR Foundation have joined hands for the sole reason of furthering the support for the Hedera ecosystem. BCW carries expertise in the relevant fields, and the Foundation offers support in core areas, including marketing, operational, and technical.