Innovation centre to foster Web3 startups

Stone & Chalk has announced a new partnership with the Australian DeFi Association to launch the Web3 Innovation Centre early next year, helping support Web3 founders and their businesses navigate shifting market and economic conditions.

The launch follows the Tech Council of Australia’s latest report on digital assets, which estimates that there will be $15–20 billion in investments and up to 1000 startups in the digital asset space by 2030. The research reinforces the untapped potential of blockchain technologies and digital assets in all aspects of society, including social finance, environmental impact and the wider creator economy.

The partnership will play an integral role in helping realise the untapped potential of the emerging Web3 ecosystem, bringing public and private sectors together to unlock the industry’s capabilities. The Web3 Innovation Centres will be located at each of Stone & Chalk Group’s Hubs, acting as a place of convergence for local founders looking to propel the industry forward by accessing the latest thinking, support and guidance from industry experts, mentors, corporate partners and collaborators.

“We believe in the long-term positive impact of blockchain technologies and, as the largest innovation community in Australia, have a responsibility to support founders exploring this space and building Web3 companies of the future,” said Stone & Chalk Group CEO Michael Bromley.

“We are committed to exploring the development of a stable, successful and competitive Australian blockchain and crypto market and believe our partnership with the Australian DeFi Association will play an integral role in facilitating the future of this industry.”

The arrival of the centre comes as crypto and blockchain technologies experience high levels of public and regulatory scrutiny. Despite current market challenges, the growth of Australia’s Web3 community has not been stifled, with the volume of talent and innovation in the future of Web3, digital assets and blockchain technologies remaining strong. Following the recent collapse of global crypto exchanges, local Web3 founders are well-positioned to work closely with industry leader and governing bodies to reset and review the opportunities of a regulated, transparent Web3 ecosystem.

Image credit: iStock.com/Dilok Klaisataporn