The photo has been used for illustrative purposes.

Inayat-ur-Rahman, Business Editor

MANTRA is announcing the launch of its new incubation programme at the Dubai World Trade Center (DWTC), following an $11 million funding round led by Shorooq Partners. This program is part of MANTRA’s effort to contribute to the Real World Asset (RWA) tokenization sector, with a focus on the MENA region.

Established in partnership with the leading corporate service provider in the United Arab Emirates, Virtuzone, the MANTRA Incubator program is designed to nurture and develop emerging projects within the MANTRA ecosystem and in the RWA sphere. MANTRA will provide the startups with financial support for development, infrastructure costs, licensing, banking, and administrative services.

Located in the Sheikh Rashid Tower at DWTC, the incubation space is located in the building’s Maktabi business center covering over 17,000 square feet, reflecting Dubai’s role as a center for crypto innovation and matching MANTRA’s goals for a vibrant startup ecosystem.

John Patrick Mullin, CEO and Co-Founder of MANTRA, emphasized the program’s goal to go beyond mere workspace provision.

“We’re building a holistic platform for innovation in the web3 space, enabling promising companies to leverage resources, networks, and a nurturing environment in one of the most vibrant crypto scenes globally,” Mullin stated.

“We have seen the unprecedented growth potential of Web3 companies in recent years, especially in specialized areas such as AI, big data and machine learning.”