IOST has announced its strategic partnership with Hong Kong Web3Hub. The objective of the collaboration is to further strengthen the support and create an environment for the emerging players in the upcoming industry – Web3. IOST and Web3Hub are collectively aiming to attract global Web3 companies to Hong Kong.
As of now, they have received inquiries from more than 300 Web3 companies. Moving forward, IOST and Web3Hub are eyeing to get at least 1,000 global Web3 companies.
IOST brings a major portion of its blockchain technology to the table. It will be perfectly complemented by the attempts to empower the global ecosystem of the said sphere. They will ultimately look to establish a sustainable environment for the Web3 sector of the region.
The announcement was made by IOST, clarifying that it will also bring to the table the Ecosystem Initiative Fund worth approximately $5 million. This is inclusive of Accelerator Fund and New Ecosystem Fund. The Initiative Fund has been launched in collaboration with BitValue exclusively to support the market of Hong Kong.
IOST has showcased its interest in participating in Web3Hub’s Global Accelerator Program & Ecosystem Fund. Through this participation, IOST plus Web3Hub will act as a backbone for the transformation of Web3 enterprises in the Asian region. Most of the support will be in the form of Tech and Ecosystem Empowerment.
Tech Support between IOST and Web3Hub includes:
- AnyCall Workshop
- AnyCall Messaging System Workshop
- Blockchain as a Service
- Software Code Audit Service
Ecosystem Empowerment includes a wide range of support like incubation acceleration, fund support, and market support, among many others.
Exclusive support under the Digital Ecosystem Integration Program will spread over Compliance & Consulting, landing products & services, expanding international circulation, and enhancing reputation on the international stage & improving the influence of the market.
What makes IOST an ideal candidate for the partnership is its commitment to fostering an innovative, diversified, and open ecosystem while partnering with ventures like Web3Hub. IOST is on the gaining side as well, with its native token estimated to rise from the current fall of $0.009377. Values are subjected to market volatility and hence, are constantly changing. One can keep track of the same through the IOST crypto price prediction section.
Web3Hub was formed by G-Rocket International Accelerator and Hong Kong Cyberport. It basically offers opportunities to participants for communication and cooperation through comprehensive support, an advanced environment, and measures of assistance.
Another initiative by Web3Hub that is worth noting is the launch of the Web3 Cloud Acceleration Program. The initiative is also a part of efforts by Tencent Cloud to help support Web3 enterprises in launching their products and services in Hong Kong.
Companies can apply for cloud investment for a value that is capped at $100,000, provided they are selected and approved by the expert committee.
Zhang Guojun, the Director, has stated that they try to take advantage of One Country, Two Systems to drive the development of technological innovation in Hong Kong. Simultaneously, it looks to attract funds, talent, and resources from all over the world, including the local region.