Emurgo, Cardano’s investment arm, has partnered with Adanian Labs, a pan-African venture studio focused on creating a platform where African tech start-ups can thrive and access all key resources that allow them to grow sustainably.
Blockchain-Based Financial and Educational Empowerment
According to a statement issued by Adanian Labs, the goal of this partnership arrangement is to provide financial and educational empowerment to billions of people who do not have these opportunities through Cardano’s blockchain platform. According to the statement, “this investment is part of EMURGO Africa, a subsidiary of EMURGO’s new $100 million Cardano ecosystem investment vehicle.”
Following the announcement, John Kamara, CEO of Adanian Labs, praised the partnership arrangement, which he believes will help sustain economies with limited resources. He elaborated:
By 2025, we hope to have built 300 tech-powered, impact-driven start-ups. We are driven by a strong desire to create ‘CAMELS,’ or strong, resilient companies, entrepreneurs, and youth, who will sustain African economies even in the face of limited resources.
Kamara emphasizes that this collaboration will also aid in the formation of more efficient collaborations, allowing Adanian Labs to build faster, scale faster, and optimize capitalization. This, in turn, would ostensibly result in a positive outcome for the entire ecosystem.
The partnership, according to Ken Kodama, CEO of Emurgo, will help provide the Cardano subsidiary with a great framework for launching in Africa.