- The Cardano Foundation has unveiled a Venture Hub to support ecosystem projects.
- Despite this positive news, internal rancor remains within the Cardano ecosystem.
The Cardano Foundation (CF), an independent, Swiss-based not-for-profit organization, unveiled a new pilot program called Venture Hub. The CF said the pilot program will assist projects building on Cardano with personalized guidance, technical expertise, and curated support.
Key Focus of Venture Hub
As revealed in a blog post, Venture Hub aligns with CF’s mission to support Cardano’s adoption and operational resilience. Introduced by CF’s educational arm, Cardano Academy, the Venture Hub is designed to refine the Foundation’s support structure through widespread, curated assistance.
The 12-week program will commence on March 17, 2025, with the first batch of participants. The application window for the pilot opens today and closes on January 31, 2025. After application evaluations, the Cardano Foundation will announce final application decisions in February 2025.
The pilot program will initially focus on increasing the visibility of participating ventures. This means those who qualify for the program will collaborate with the Foundation’s internal teams and ecosystem experts. The Cardano Foundation plans to use the data and feedback from the collaboration to shape the program’s future.
Only participants from Web3 businesses, Web3 ventures, and Web3 innovators are allowed to participate in the pilot. Projects are selected based on alignment with the Foundation’s strategic objectives and capacity to leverage the support offered.
The Cardano Foundation will not provide financial incentives to selected projects. However, participants can benefit from visibility within the Cardano ecosystem. Also, the pilot will equip selected projects with the resources and tools they need to grow. Note that the initial pilot will provide customized support to up to five teams.
Venture Hub focuses on connecting each venture to in-house technical experts for personalized coaching and support. The program will also equip projects with the strategic guidance to achieve sustainable growth and success within the Cardano ecosystem. Furthermore, projects will gain exposure and fundraising through a designed Demo Day, enterprise collaboration, and Project Catalyst via application workshops.
The program also positions venture firms to receive advice from experienced industry leaders and Foundation executives. Venture Hub offers long-lasting benefits for selected projects, including accelerated business development, improved investment readiness, and refined technical strategy.
Internal Challenges at the Cardano Foundation
The introduction of the Venture Hub comes amid internal fights at the Cardano Foundation. Cardano Founder Charles Hoskinson recently expressed dissatisfaction with the current Foundation governance, especially the board members’ election process.
Hoskinson disclosed in a CNF report that the Swiss authorities appoint the Foundation’s board members without giving users voting rights. He described the Swiss model simply as unfavorable to transparency and accountability.
Therefore, he proposed the Foundation’s move to Abu Dhabi or Wyoming to establish a governance process that invites individuals to participate.
In another CNF update, Hoskinson said the Foundation’s $600 million ADA treasury lacks direct community representation in its allocation decisions. He raised concerns that the Foundation’s limited support for grants and funding projects, such as Project Catalyst, would inhibit ecosystem growth.
