Emurgo, the investment arm of Cardano, has partnered one of its subsidiaries with Adanian Labs, a pan-African venture studio that is focused on building a platform where African tech start-ups can thrive and access all key resources that allow them to grow sustainably.
According to a statement issued by Adanian Labs, the goal of this partnership arrangement is to bring financial and educational empowerment via Cardano’s blockchain platform to the billions who lack these opportunities. “This investment is part of EMURGO Africa, a subsidiary of EMURGO’s new $100 million Cardano ecosystem investment vehicle,” the statement details.
In his comments following the announcement, John Kamara, CEO of Adanian Labs, commends the partnership arrangement which he believes will help sustain economies that have limited resources. He explained:
We aim to build 300 tech-powered, impact-driven start-ups by 2025. We are passionate in our drive to create ‘CAMELS’ strong, resilient companies, entrepreneurs and youth who will sustain African economies, even with limited resources.
Kamara emphasizes that this partnership will also help forge more efficient collaborations that will enable Adanian Labs to build quicker, scale faster and optimize capitalization. This, in turn, would ostensibly result in an outcome that benefits the entire ecosystem.
Ken Kodama, CEO of Emurgo, claims the partnership will help provide the Cardano subsidiary with a great framework to launch in Africa.
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