Crypto Valley Venture Capital (CV VC) Pilots ‘Genesis Hub’ Blockchain Incubator
Swiss Investment Firm Pilots Blockchain Incubator
The development of blockchain technology is one of the most lasting achievements to come from the cryptocurrency movement and its subsequent explosion in popularity in the past few years. Many analysts, even those that disagree with the valuation of key cryptocurrencies, concede that blockchain technology is among the most important financial technologies to be developed in the 21st century. And as cryptocurrencies and the technologies backing them have gained mass exposure and adoption in 2017 and 2018, venture capitalist firms specializing in the traditional investment sector are becoming more and more interested in funding blockchain projects.
Zug is frequently referred to as the “Crypto Valley” of Switzerland, a country that already has placed itself at the top of a long list of nations with good tidings for the growing blockchain and cryptocurrency sectors. Hidden away in this blockchain hub, the Crypto Valley Venture Capital consortium is a Swiss group of investors with a vested and unique interest in developing and investing in technology within the crypto space.
CV VC reported this week that it has launched a new incubator for blockchain technology, with a goal of USD $100 million. The plan thus far is to fund around 60 new companies every year that the incubator is around, kickstarting new programs with the funding needed to develop blockchain technology and innovate within the growing sector. Though it may be a relatively lofty goal, the Swiss consortium is convinced that its investors will generate substantial profit from prolonged investments for the good of the blockchain.
A Swiss Consortium For The Blockchain
The organization was originally founded with the intent of “Supporting the development of blockchain and cryptographic related technologies and businesses,” and they have thus far been reported as one of the foremost forces in the growing Switzerland crypto hub, especially for the creation and funding of major blockchain projects and technology companies.
In the long-term, the company has stated that they want to “open doors” for around 1,000 unique blockchain companies all over the world each year. In exchange for the initial financial backing of the institution, eligible startups promise CV VC a whopping 8% of their company’s stakes, either in the form of shares or as digital tokens.
Switzerland and ICOs
In a recent poll, the small alpine country ranked number two on the list of the most favorable countries in the world of Initial Coin Offerings (ICOs). This should not be very surprising, given the longstanding reputation of Switzerland as a haven for banking and financial technologies. The study found that Switzerland is particularly interested in making life as easy and rules as clear as possible for cryptocurrency and blockchain companies, making it one of the most ideal places to take up roots in the world.
CV VC has been clear in their interest in taking the ICO solution and integrating it into the traditional financial and funding system. The company’s vice-president Vasiliy Suvorov spoke out on the issue, saying that,
“ICOs are a “useful mechanism,” but they do not need to be the only way for companies to gain funding on the blockchain. Instead, the consortium believes that blockchain-based companies need to be brought into the “real economy” with the help of venture capitalists like his consortium.”