- Olympus is the first on-chain acceleration platform
- ISLA Camp (ICP Hub Philippines) will identify and nurture high-potential web3 projects in the country
MANILA – May 7, 2024 – The DFINITY Foundation (DFINITY), a Swiss not-for-profit research and development organization and key contributor to the Internet Computer Protocol (ICP) blockchain, has announced the launch of the Olympus, the first decentralized, on-chain global acceleration platform.
Olympus provides a consolidated platform for launching Web3 products by providing grants, crowdfunding, venture capital (VC) investments, and networking opportunities all on-chain. The platform serves as a global ecosystem connector for over 40 countries, facilitating project applications, funding, talent acquisition, and cross-community interactions. It also promotes a transparent investment environment, giving investors early access to vetted projects.
Olympus’s initial operations are supported by a $15 million grant from DFINITY and the ICP Asia Alliance, which will operate the first series of Web3 startup accelerator programs. Within this framework, ISLA Camp (ICP Hub Philippines) will lead these efforts locally, spearheading the acceleration programs within the country to nurture and develop Filipino-led Web3 projects.
“Magandang oportunidad ang Olympus para makilala ang Filipino Web3 projects and entrepreneurs sa global stage. [Olympus opens global opportunities for Filipino projects and entrepreneurs.] Our focus at ISLA Camp (ICP Hub Philippines) is to identify, nurture, and propel high-potential Filipino Web3 projects onto the global stage,” said Nelson Lumbres, Co-founder of ISLA Camp (ICP Hub Philippines).
Filipino Web3 startups and entrepreneurs who will participate in Olympus will have access to mentorship and deal flows from top venture capital investors including Fenbushi Capital, Fundamental Labs, Softbank Vision Fund, NewTribe Capital, Cypher Capital, Bitcoin Frontier Fund, Summer Ventures, L2IV, Dext Force Ventures, Leadblock Partners, viaBTC Capital, Cipholio Ventures, Chiron Group, 3X Capital, Plutus.VC, and others.
“The Olympus acceleration platform promotes decentralization, innovation, and entrepreneurship. We’re all looking forward to witnessing the growth of the next generation of projects on the Internet Computer and other ecosystems through Olympus,” said Dominic Williams, Founder and Chief Scientist of the DFINITY Foundation, in a statement.
By the end of 2024, Olympus will transition into a decentralized autonomous organization (DAO). To ensure its independence and sustainability, it will be funded through a native token generation event (TGE) followed by community-led fundraising, enabling all stakeholders to participate in the platform’s success.
Founders and developers wishing to participate in Olympus can submit their projects to the website dfinity.org.