Swiss State Secretariat Helps Blockchain Incubator Firm Set Up Base in South Africa

Swiss State Secretariat Helps Blockchain Incubator Firm Set Up Base in South Africa


Switzerland’s State Secretariat for Economic Affairs (SECO) is reportedly helping Crypto Valley Venture Capital (CVVC), a blockchain business incubator, set up an office in South Africa. According to SECO, this move fits with Switzerland’s policy of supporting private firms that seek to help African blockchain start-ups.

Funding for Successful Applicants

According to a Swissinfo report, CVVC will fund the best blockchain start-ups “in South Africa, Nigeria, Kenya, Rwanda, Congo and other countries.” The report adds that the initial five successful applicants will each receive $125,000 (CHF114,000) from the incubator while SECO will also chip in with a contribution of over $270,000 in the first year of the project.

Trending: RINO Reveals He HUGGED Ashli Babbitt’s Murderer; Told Him He Did the Right Thing

In addition, the report also quotes a SECO representative explaining some of the objectives of this funding initiative. The SECO rep is quoted as saying:

This start-up funding is intended to show that investments in African start-ups that develop blockchain-based solutions for the challenges on the African continent are worthwhile. This

Continue reading

You Might Like

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend