HBAR News: Hedera’s Swiss Hashgraph Association Launches Hashgraph Innovation Program

April 24, 2022 7:14 pm Comments

Hedera has recently announced that they have entered a new partnership with the Swiss Digital Assets Institute in order to create the Hashgraph Innovation Program.

The purpose of this program is to its to provide capital and the necessary resources to startups and institutions that are working on solutions using the Hedera network.

So far, Hedera has already provided a grant in its native token HBAR that is worth $16.3 million to the Swiss Hashgraph Association in order to kickstart the new program.

It is expected that this will accelerate the timelines of all the companies and institutions that are already developing something of value on the Hedera network and encourage more mainstream adoption of Hedera.

Yahoo reports:

The Hedera network is owned and governed by the members of the Hedera Council, a group of the world’s leading organizations responsible for governing the network, operating nodes, and allocating the network’s treasury of hbars.

Last year, the Council approved the allocation of 10.7 billion hbars (~20% of total supply), worth $5 billion at the time, to further the development of the Hedera ecosystem.

The Hashgraph Innovation Program is structured to be delivered over five years and in three implementation phases.

Program participants that qualify and receive a grant from the Swiss Hashgraph Association will go through three development stages, beginning with 1. Learn & Discover (training and ideation workshops), followed by 2. Visualize & Design (design-thinking and proof-of-concept modeling) and concluding with 3. Develop & Deploy (minimum viable product development and integration).

The amount that someone gets in grants is dependent on whether or not the project has high potential and if there is any government support behind it.

For example, startup plans working on Hedera projects with promising results could receive grants up to $250,00 worth in HBAR.

Enterprise institutions could receive more up to $750,000 and government initiatives would receive the most support at around $1.5 million provided that the government also invests a portion into the project.

The Hedera Council also believes that this new program will particularly facilitate growth in specific regions such as Europe and the Middle East which are the high demand markets.

With growth in these areas, the Hedera network could truly be able to establish a global footprint.

PRNewswire concludes:

Brett McDowell, Chair of the Hedera Governing Council, said:
“As we enter the next phase of decentralization and growth of the Hedera network, the Governing Council continues to look for partner organizations that can help accelerate the adoption of our best-in-class public ledger globally.

We recognize that Europe and The Middle East are important markets for innovative and disruptive DLT solutions.

The founders of SDAI have experience bringing DLT innovation to those markets through a combination of education and incubation that leverages their network of influential partners across the region.

We’re delighted that SDAI chose to establish the Swiss Hashgraph Association as a major initiative to promote the adoption of Hedera-enabled solutions, starting with EMEA and expanding globally from there.”

As always, Hedera continues to make progress and will likely become a project that will continue to grow due to its excellent long-term strategy.

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