The Lisk Blockchain Incubation Hub offers twenty African startups utilizing the Lisk protocol a grant of up to $100,000 and other benefits. The five-month program starts in July 2024 and is designed to support entrepreneurs in leveraging blockchain technology and tapping into the African market. Through financial assistance, mentorship, and support services, the program aims to empower startups and drive sustainable growth in Africa’s growing blockchain industry.

In preparation for the Lisk Incubation Hub, Lisk and CV Labs, supported by NODO, have organized events for developers, entrepreneurs, and tech startups interested in participating in the program in Kenya and Nigeria. Interested participants are expected to submit their applications for the program by June 21, 2024.

In this article, we will discuss specific benefits provided to startups upon joining the Hub, the integration of core focus areas into the Hub's structure, the application process and selection criteria, the support offered, and the advantages of integrating and building upon the Lisk protocol.

1. Specific Benefits for Startups: Upon joining the Lisk Incubation Hub, startups gain access to various benefits. These include:

A $4,000 grant for completing Block 1
Up to $100,000 for graduating Block 2
Potential entry to CV Labs Accelerator Program Batch 08
Extensive technical and business mentorship from global experts

2. Core Focus Areas & Structure: The program centers around four core focus areas: Real World Assets (RWA), Decentralised Physical Infrastructure (DePin), Social Finance (SocialFi), and Decentralised Finance (DeFi). Startups working on projects within these areas receive preference during the selection process. The program's structure includes tailored workshops, mentorship, and development phases that enhance projects within these core areas while encouraging all innovative blockchain projects to apply.

3. Inclusive Application Process and Selection Criteria: The Lisk Incubation Hub welcomes both individuals and startups at various stages of development. The selection process evaluates the potential of leveraging blockchain for impactful solutions. Criteria used include:

Blockchain understanding
Innovation and impact within core focus areas
Development stage evaluation
Growth potential and alignment with strategic markets
Assessment of team or individual background and experience

4. Networking and Community Engagement: The program provides ample opportunities for startups to network and engage with industry experts, potential investors, and fellow innovators. Through roadshow events, workshops, and mentorship sessions, participants can foster collaborative relationships essential for growth and innovation.

5. Funding Allocation: Upon successful completion of Block 1, startups receive a $4,000 grant to support the early development and refinement of their blockchain projects. Criteria for successful completion include demonstrated progress in business model development, effective integration of blockchain technology, and active participation in workshops and mentorship sessions.

6. Milestones for Additional Funding: To qualify for up to $100,000 in additional funding from Lisk in Block 2, startups must demonstrate exceptional promise in technology development, market readiness, and potential for impact. These milestones include showcasing a scalable blockchain solution, a clear and viable go-to-market strategy, and the ability to attract potential investors or partners.

7. Potential Accelerator Opportunities: Projects showing significant growth, innovation, and market potential are prioritized for admission to the CV Accelerator Program Batch 08. The selection is based on technological advancement, business model scalability, market engagement strategy, and overall readiness for acceleration.

8. Support for Startups at Any Stage: The Lisk Incubator welcomes individuals and startups at various stages of development. Emphasizing the potential impact and alignment with core focus areas, the program aims to support scalable solutions regardless of the project's current stage. The key is the applicant's commitment to leveraging blockchain technology for innovative solutions.

9. Leveraging Lisk Protocol: Integrating the Lisk protocol offers unique benefits for developers and startups. Lisk provides a cost-efficient, fast, and scalable Layer 2 (L2) network secured by Ethereum. Since 2016, Lisk has been simplifying blockchain access for developers and users worldwide, focusing on addressing issues in Emerging Markets through solutions for real-world assets, off-chain assets, and DePIN onchain. As part of the Optimism Superchain, Lisk is working to onboard the next billion people to Web3.