Israeli blockchain company StarkWare has launched a $4 million fund aimed at boosting the development of blockchain startups across Africa.
The initiative seeks to provide early-stage funding, technical mentorship, and infrastructure support to entrepreneurs building decentralised applications.
The fund, which focuses on pre-seed and seed-stage startups, will provide grants of up to $150,000, with more investments of up to $500,000 available for promising projects. Selected startups will also receive guidance from blockchain experts to help them scale their businesses effectively.
Kheireddine Kamal, an experienced African entrepreneur and investor, will lead the initiative. Kamal revealed that the fund targets startups in regions with economic instability, where blockchain technology can offer solutions to high inflation, currency depreciation, and financial exclusion.
“We are looking for projects in African countries that have economic conditions such as high inflation, unstable exchange rates, or low financial inclusion, with a local population interested in blockchain,” said Kamal.
Africa has seen growth in cryptocurrency adoption, with projections showing a surge in digital financial transactions over the coming years. The continent’s youthful population and increasing interest in decentralised finance make it a prime market for blockchain innovation.
StarkWare’s investment aims to leverage this rate, enabling African startups to bypass traditional financial limitations and integrate into the global digital economy.
StarkWare’s CEO, Eli Ben-Sasson, emphasised the vision behind the initiative, stating, “Blockchain presents a unique opportunity for many parts of Africa to leapfrog outdated infrastructures and democratise access to financial tools with more decentralisation and transparency.”
Founded in 2018, StarkWare is known for developing Layer 2 solutions that enhance the scalability and efficiency of blockchain networks. The company’s StarkNet platform, built on Ethereum, is a central part of its works in supporting African entrepreneurs.
Kamal also noted the long-term prospect of StarkNet’s development in Africa, saying, “StarkNet is a particularly interesting path to blockchain, as it is currently a Layer 2 over Ethereum and plans to also operate over Bitcoin.”
The launch of this fund comes with a combination of financial backing, infrastructure, and mentorship, focused on African entrepreneurs, providing the tools needed to develop sustainable and impactful blockchain-based solutions.
