A joint initiative is set to see the creation of a blockchain ecosystem and disperse working capital to start-ups that develop products and services based on Industry 4.0 technology.

The collaboration between the University of Johannesburg’s Institute for Intelligent Systems (IIS) and Swiss firm Crypto Valley Venture Capital includes an investment from the latter of US$11 million over four years, through which up to 100 African start-ups will be supported through incubation hubs, mentorship and investment opportunities. As reported by IT Web, the accelerator will focus on start-ups that work across the supply chain, healthcare, fintech and government sectors.

The project forms part of the university’s goal to drive Industry 4.0 initiatives. According to IIS associate professor and researcher Wesley Doorsamy, ‘the future looks promising for start-ups that are looking to implement blockchain for better speed and security at lower costs’.

23 November 2021
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