- Zetrix and Web3Labs initiate Zetrix Global Accelerator Programme
- Aiming to incubate 10 promising Web3 startups worldwide
- Seeks projects aligned with Hong Kong’s virtual asset roadmap
- Focus areas: RWA tokenization, security token offerings, stablecoin innovation
- Partnership aims for regulatory approval for ETFs backed by participant tokens
- Collaboration follows January announcement, targeting Hong Kong’s Web3 growth
- Supported by Johnny Ng, Joseph Chee, and TS Wong
- Zetrix offers layer-1 public blockchain, Web3Labs facilitates global connections
- Summer Capital contributes investment and advisory expertise
PETALING JAYA, Malaysia, February 18, 2024. Zetrix, a well-known layer-1 public blockchain platform developed by MY E.G. Services Berhad (“MYEG”), and Web3Labs Hong Kong, a leader in Web3 development and investment, have announced the beginning of the Zetrix Global Accelerator Programme. This project seeks to incubate and nurture promising Web3 startups worldwide, with significant assistance from Hong Kong’s active Virtual Asset (VA) ecosystem. The project will accept applications beginning in early March 2024, with selected candidates being announced during the 2024 Hong Kong Web3 Festival, which will take place from April 6 to 9, 2024.
Identifying and fostering innovation :
The accelerator programme plans to select up to ten startups with the goal of discovering the most promising ventures. These selected projects will have access to the Zetrix platform and will collaborate with government or enterprise stakeholders to create and implement innovative solutions. The six-month accelerator targets ideas that demonstrate product-market maturity and have creative, well defined development pipelines, ideally aligned with Hong Kong’s virtual asset agenda.
Fostering Blockchain-Based Innovation :
Real-world asset (RWA) tokenization, security token offers, and stablecoin innovation are three industries in Hong Kong that are ripe for blockchain innovation. The program’s goal is to provide use cases in RWA, Environmental, Social, and Governance (ESG), and blockchain-based finance to businesses, financial institutions, and government agencies. In addition, the programme’s partners—Zetrix, Web3Labs, and Summer Capital—will strive to secure regulatory approval for exchange-traded funds (ETFs) partially backed by tokens issued by programme participants.
Strategic Collaboration and Vision :
Zetrix, Web3Labs, and venture capital firm Summer Capital announced a strategic alliance in January, which led to the development of this accelerator. The agreement seeks to make Zetrix the preferred blockchain infrastructure for Hong Kong government-related apps.Being part of this effort, a dedicated World Acceleration Programme will develop and foster emerging entrepreneurs creating application for the Zetrix Platform.
Community Support and Government Approval :
Johnny Ng, a member of the Chinese People’s Political Consultative Conference (CPPCC) and Legislative Council member of the Hong Kong Special Administrative Region (HKSAR), as well as an advisor to Web3Labs, applauds the program’s launch, emphasising its role in cementing Hong Kong’s position as a progressive international financial centre that embraces Web3 developments.
Joseph Chee, Chairman of Summer Capital, shares Ng’s enthusiasm, emphasising the substantial progress made in Hong Kong’s Web3 ecosystem in recent years.
TS Wong, co-founder of Zetrix, is enthusiastic about the collaboration and the program’s potential to further the Web3 movement. Wong emphasises Zetrix’s commitment to growing the Web3 ecosystem and offering complete technical support to participating projects.
About Zetrix, Web3Labs, and Summer Capital :
Zetrix is a layer-1 public blockchain that enables smart contracts while providing privacy, security, and scalability. Web3Labs intends to help worldwide Web3 companies establish a presence in Hong Kong by accelerating investment, collaborating on technical projects, and assisting with compliance. Summer Capital is a major investment management and advising firm that focuses on early and growth stage companies in the “new economy” industries such as fintech and blockchain technology.
In conclusion :
The Zetrix Global Accelerator Programme is a key step towards promoting innovation and collaboration in the Web3 landscape, cementing Hong Kong’s status as a hub for blockchain-based development.