According to a recent report by a local source ‘swissinfo.ch,’ CVVC has reportedly launched its initial incubator dubbed “Genesis Hub” within the canton of Zug, also called Switzerland’s Crypto valley. This valley Association was supported as a govt-backed pool back in March 2017, with the aim of “supporting the event of blockchain and cryptological connected technologies and businesses.”
Currently, thesetupincludestwentyblockchain startups,butit plans to eventually fundsixtynewcorporations annually also. Asa part ofthe initiative, approved startupswould be ableto complete CVVC’s three-month kickstart program, with $125,000 USD as seed funding,whereasthe foremostauspicious would also receive later stagefinancial aid.In addition, startupswould be supplied withsupport and mentoring from the consortium’s technology consultants.
The company’slongterm goal is reportedly to open doors fora min. thousand blockchaincorporationsaround theworldevery year.Reciprocallyfor CVVC’sfunding, startups would be liable to providea stakewithin their business of upto 8%in the form of shares or tokens.
Theupcomingplans of CVVCadditionallyinvolve establishing similar incubators inalternativecountries and developinga worldwidenetworkwithin thecomingyears. CVVC co-founder ‘MathiasRuch’aforementionedthat “blockchain technologyis theworldwidephenomenonthuswemayexpandanywherearound the globe.”
Moreover, Ruch believes that ICO’sandIPO’scould facilitate the creation ofa replacementmodel offinancefor newcorporations.
CVVCadviser and vice-president of the CryptovalleyAssociation ‘Vasiliy Suvorov,’ adding further said:
“ICOscanstillbe ahelpfulmechanismhoweverthey would be notbe the core to the blockchain economy in the future.We’ve hadall thehypesconcerningICO’s, andcurrentlywe wanta model that takesall these magnificent technologicalideastothe realeconomy.”
Earlier in July, a recent survey was conducted by the ‘Crypto Finance Conference’ which stated that the Switzerland was ranked the second most favourable country for ICO’s. Theanalysiswas based on publicinformationofthe top hundredICO’s by country in terms of funds raised, along withthe total number of projects launched.