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Web3 Foundation has announced a new grant awarded to PolkaPort East, aimed at furthering decentralization and bolstering community engagement within the Polkadot (DOT) ecosystem, as per the latest info shared with Finbold on June 4.

This Decentralized Futures grant is the first such grant to an organization in Asia.

PolkaPort East, an independent entity focused on investor relations and growth initiatives in Hong Kong and the Greater Bay Area, will utilize the grant to drive regional growth.

The initiative aims to promote Polkadots technology, fostering strategic investments and collaborations in the local ecosystem.

Max Rebol, co-founder of PolkaPort East and CEO of Harbour Industrial Capital, a venture capital fund centered on Polkadot, emphasized the strategic timing of PolkaPort Easts launch, stating:

The launch of PolkaPort East comes at a crucial moment for Polkadot. It represents a critical step towards increasing the networks decentralization while strengthening the ecosystems strategic position in Hong Kong.

Thibault Perrard, likewise a PolkaPort East co-founder, added:

With the support of the DF grant, PolkaPort East will be tapping into the thriving innovation hubs of Hong Kong and the Greater Bay Area while engaging and fostering relationships with local governments, global enterprises and capital allocators of the region.

Reflecting his colleagues sentiment, David Hawig, Director of Ecosystem at Web3 Foundation, likewise expressed enthusiasm for the PolkaPort East initiative:

The Web3 Foundation is thrilled to support the Polkaport East initiative through a Decentralized Futures grant. This project exemplifies our commitment to fostering decentralized access and innovation within the Polkadot ecosystem. We believe Polkaport East will play a pivotal role in enhancing connectivity and empowering the community in Hong Kong, driving forward the vision of a truly decentralized internet.

The initiative will attract participants across Asia, including developers, venture capitalists, and Web3 investors, and engage with university blockchain collectives, fintech companies, and local governments exploring blockchain technology.

Web3 Foundation launched the Decentralized Futures initiative in 2023 to support independent teams driving Polkadots success.

Inspired by Parity Technologies restructuring to focus solely on technical development, the program offers funding to both profit-driven and non-profit Polkadot-oriented organizations.

The program has dedicated an initial $20 million and 5 million DOT tokens to expand the Polkadot ecosystem, ensuring ongoing innovation.

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PolkaPort East launches in Hong Kong, supporting the decentralization of Polkadot ecosystem - Finbold - Finance in Bold