XDC Network and Foundership Form Strategic Partnership to Support Early-Stage Web3 Startups

This initiative was announced at the prestigious Token 2049 event, held at the 80RR Fintech Hub, where over $2 million in funding was pledged to drive the development of more than 10 innovative startups.

Singapore, September 26, 2024 — XDC Network, a Layer 1 blockchain infrastructure specializing in enterprise applications, has announced a strategic partnership with Foundership, a prominent Web3 accelerator, to support early-stage Web3 startups at the Token 2049 event, held at the 80RR Fintech Hub. This initiative will see over $2 million in funding pledged to drive the development of more than 10 innovative startups.

The partnership aims to attract institutional investors to blockchain use cases beyond cryptocurrency, such as decentralized finance (DeFi) and tokenization. Startups like Zayn Network, MetaSoccer, Akka Finance, Earnscape, Fandora, Panenka FC, Open Work, Resmic, Circle of Games, and Zon Network will present their startups to venture capital firms and industry leaders, attracting interest from financial backers eager to co-invest alongside XDC and Foundership.

“This partnership aligns with our long-term vision of creating robust enterprise-grade applications. By offering capital and mentorship, we are accelerating the transformation of promising ideas into scalable solutions,” said Ritesh Kakkad, Co-Founder of XDC Network, highlighting the ecosystem’s ability to support the next wave of blockchain innovation.

“Our accelerator program is designed to give startups the edge they need to succeed in the competitive Web3 landscape, with a special focus on enterprise applications,” added Santosh Panda, Co-Founder of Foundership, emphasizing the importance of pairing financial backing with strategic guidance.

XDC Network's collaboration with Foundership complements its broader strategy of working with top global incubators like Brinc, Plug and Play, and Tenity to create a vibrant pipeline of blockchain-driven startups.

Web3 startups attracted approximately $3.7 billion in venture capital during the first six months of 2024, spanning two quarters. In Q1, these startups brought in nearly $1.9 billion through 346 funding deals, marking a significant 58% jump from the prior quarter. This positive momentum continued into Q2, with another $2 billion secured, reflecting a steady increase. Key areas capturing investor attention included blockchain infrastructure, DeFi, and decentralized social media networks.

About XDC Network

Launched in 2017, XDC Network is a secure, scalable, and interoperable Layer 1 blockchain infrastructure designed for trade finance, RWA, Tokenization, Payment and DePIN. More details at : xinfin.org and xdc.org

About Foundership

Foundership is a global Web3 accelerator program supporting early-stage startups with resources, mentorship, and investment opportunities to drive their growth and success.