Swiss Consortium Launches Blockchain Incubator For Crypto Startups
The representatives of Crypto Valley Venture Capital (CV VC), a consortium from Switzerland, have established a blockchain incubator with a capital of $100 million, swissinfo.ch reports.
The Genesis Hub was launched in the Zug city (Crypto Valley). The consortium was founded with government support in spring 2017 to develop distributed ledger, cryptography, and business in general.
To date, the blockchain incubator consists of 20 startups, but the company has intentions to increase this number up to 60 firms annually. During the initial period of three months, the projects will get $125,000 for development, and the most successful of them will be financed in the future.
The association sets itself a global long-term objective to launch similar centers in other countries with the annual support of up to 1000 startups. In response, the young firms will be obliged to provide CV VC a stake in the business to 8% as shares or tokens.
Blockchain is a world phenomenon. Therefore, this technology can be developed anywhere on the globe, Mathias Ruch, the co-founder of CV VC, stated. According to him, ICOs, as well as IPOs, will contribute to the establishment of a new financing model for startups.
Mathias Ruch explains his vision as co-founder and CEO of CV VC
This summer, analysts called Switzerland the second country after the United States with the most favorable environment for the ICO.
As previously reported, the Swiss startup Smart Valor received permission from the regulator to work on its own online investment platform.