Startups working on the Sui blockchain can get a boost from the newly launched SuiHub Global Accelerator Program. The Sui Foundation and its partners will provide up to $200,000, as well as technical and marketing support, to teams with pre-token minimum viable products.

Organizers of the 12-week accelerator program are looking for projects with real-world applicability and scalability that are a good match for the Sui blockchain’s capabilities. Funding will be made available based on meeting milestones of development. SuiHub will take a stake in the projects admitted to the program.

Concentrating on MENA

SuiHub’s mission is “to create a home for Sui builders” in the Middle East and North Africa. It is a joint venture between Sui and the Ghaf Group, a Dubai-based private capital firm specializing in the Web3 space.

Its Ghaf Studios will provide accelerator participants with strategy support for fundraising, marketing and tokenomics. Mysten Labs co-founder and chief cryptographer Kostas Chalkias said:

“The launch of our accelerator program marks a pivotal step in empowering the next wave of innovators. At SuiHub, we are not just building projects; we are fostering a thriving ecosystem where groundbreaking ideas meet unparalleled mentorship and resources.”

Mysten Labs is the developer of the Sui network.

Another partner in the accelerator is Brinc, a Hong Kong-based venture capital and accelerator firm that will provide partnership and business development support. Token listing platform CoinList will hold a token launch workshop with follow-up guidance and provide exposure to its 10 million users.

The application deadline for the program is Dec. 20.

Sui provides fast action

The Sui network was launched by Mysten Labs in May 2023. It features high throughput and transaction speeds; as of September 2024, it had over 18.19 million active accounts and had processed more than 4.58 billion transactions.

Sui held the record for layer-1 blockchains of 65 million transactions in a single day until Aptos exceeded it with 115.4 million transactions in May.

Sui and Aptos use the Move programming language, which was designed for Meta’s Diem coin project and open-sourced after Diem was abandoned.