MANTRA, a blockchain focusing on Real World Asset tokenization and security, unveiled a new incubation initiative at the Dubai World Trade Center (DWTC). This initiative comes after securing an $11 million funding round led by Shorooq Partners. The program is geared towards driving innovation in the RWA tokenization sector, specifically in the Middle East and North Africa (MENA).

In partnership with Virtuzone, a well-known corporate service provider in the UAE, MANTRA aims to support budding projects in the RWA industry by providing financial support, licensing, and banking and administrative services.

Five exceptional projects will be chosen to participate in the incubator program, where they will receive personalized guidance to smoothly merge into the MANTRA Chain ecosystem. Each project will receive a $100,000 seed investment from MANTRA's founder, John Patrick Mullin, showcasing a strong dedication to ensuring the success of these projects.

The program will kick off in Hong Kong, followed by a stint in San Francisco, before making its way to the Dubai World Trade Center. Participants will have the chance to showcase their achievements and skills on a global stage.

John Patrick Mullin, CEO of MANTRA and Co-Founder, emphasized the program's overarching goals, stressing the importance of creating a supportive environment for Web3 innovation. Similarly, Neil Petch, Chairman and Co-Founder of Virtuzone, highlighted the growth potential of Web3 businesses and shared a vision with the UAE government to nurture 10 unicorns by 2030. George Hojeige, Group CEO of Virtuzone, echoed these sentiments, reaffirming the project's dedication to supporting Web3 startups and becoming a key player in the tech landscape of the region.