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Crypto Valley Venture Capital (CV VC), a Swiss company launched by the founders of Lakeside Partners, has launched its initial “Genesis Hub” incubator in Zug, swissinfo.ch reported.
The blockchain incubator aims to secure $100 million. It currently includes 20 blockchain startups and has plans to support 60 new companies per year, with the long-term goal of helping 1,000 blockchain companies kick-start their journey.
Selected startups will each receive $125,000 in seed funding and go through a three-month program – each program consists of six weeks of classes and workshops with experts, mentors and special guests, and an additional six weeks to work with fellow participants and members of the ecosystem at CV Labs.
Importantly, CV VC will decide on the later stage of financing for the most promising startups on a case-by-case basis. The startups, in return, will give CV VC a stake in their business of up to 8 percent (in shares or digital tokens).
“Every blockchain startup gets $125K and access to a three-month incubation program as well as co-working space in exchange of equity and tokens,” the website reads.
Although based in Switzerland, CV VC intends to operate internationally and is seeking new investors from across the globe to help it establish future incubators in other countries.
“Blockchain technology is a global phenomenon so we could expand anywhere in the world,” said CV VC co-founder Mathias Ruch.
