Brinc, a leading global venture accelerator, with operations in the UAE has selected 25 promising global startups, launched by a total of 66 founders, for its Summer 2023 cohort under its host of Web3 accelerator programs. Two startups from the GCC region have been selected. The first is UAE AI NFT , an AI-powered music development program dedicated to helping artists grow their career online, offering 35+ tools for music production and distribution was chosen among startups and the second one is Bahrain based Eye Labs, a pioneering platform dedicated to guiding brands into the Web3 realm, simplifying blockchain infrastructure while emphasizing storytelling and user journeying to make the transition more accessible to a wider audience.

Brinc’s Summer 2023 cohort represents a diverse range of innovative ventures at the forefront of cutting-edge technologies in blockchain, decentralized applications, and peer-to-peer networks. This round is Brinc’s third cohort in Web3-startup acceleration, confirming its commitment to the incredible potential that blockchain technology and online ecosystems offer to all areas of decentralized business.

From more than 700 applications from across 27 countries received for its various Web3 accelerator programs, Brinc’s rigorous selection process identified 25 startups poised to make significant advancements in their respective industries. The cohort, of startups at pre-seed or seed stage, is grouped under five Web3 verticals: DeFi (4), Entertainment & Loyalty Platforms (2), Gaming (8), Healthcare (5), Technology & Infrastructure (6).

The chosen startups will virtually join Brinc’s 12-week accelerator program, receiving comprehensive support, mentorship, as well as access to resources to scale their growth, elevate strategies, expand their network, and contribute to the advancement of technology-driven solutions. Aligned with Brinc’s company vision to support and maximize positive impact, the Web3 cohort will also be guided on diversity and inclusivity strategies.

The cohort’s Summer 2023 program will feature mentorship and sessions hosted by high-profile industry leaders — including Brinc’s Manav Gupta as well as Animoca Brands’ Robbie Yung and Animoca Ventures’ James Ho. Other program mentors and collaborators include:prominent investors (including Babu SK of True Global Ventures, Prashanth Swaminathan of Woodstock Fund, Sidd Gandhi of Growx); Web3 partners (including Anthony Diaz of Health Hero, Dario Heymann of Galen Growth, Douglas Corley of Alaunius Labs, Ryan Horn of N3ON, Vikash Suresh of Recorem, Yassamin Issapour of Agora Digital Capital Markets); specialized field consultants (including Andy Liu of Basebit Technologies, Robbie Nakarmi of Simmons & Simmons).

Manav Gupta, founder and CEO of Brinc, said: “Our third cohort in the Web3 realm welcomes the 25 selected startups, who bring exciting ideas and breakthrough perspectives to the blockchain space, which continues to evolve and shape our future. We are excited to work with these forward-thinking entrepreneurs to build new business models, propel creative innovation and advance incredible technologies, as well as promote diversity and inclusivity for a decentralized future.”

Brinc’s Web3 program is supported by key industry partners including Animoca Brands, DMCC, Fusang, Zilliqa, Protocol Labs, OliveX, and Prenetics.

UAE DMCC, Dubai Multi Commodities Centre, has launched the DMCC Gaming Centre in support of the increasingly growing global and regional video games industry. Members of the center who are developing blockchain games will be able to access $150 million funding from VC firm Brinc. Currently standing at USD 1.8 billion, revenues generated by the gaming industry in the MENA region are expected to reach USD 5 billion by 2025.

Launched during the Dubai Esports Festival, the DMCC Gaming Centre formalizes DMCC’s efforts in the gaming and esports space, creating a supportive environment in which all gaming and esports companies can thrive. DMCC is currently home to over 50 gaming companies, from game developers and producers to esports teams and tournament organizers.

The DMCC Gaming Centre will be based in DMCC’s free zone, providingaccess to a vibrant community of gaming industry peers to unlock new opportunities for collaboration. Gaming companies looking to expand their global reach and connect with audiences across the world will also benefit from DMCC’s fully digital setup process, world-class infrastructure, and commitment to increasing the ease of doing business.

 Under the DMCC Gaming Centre, members will have access to the wider esports community through regular events and esports tournaments and industry support from DMCC’s ecosystem partner YaLLa Esports, a leading esports organization in the UAE. Furthermore, members will have the opportunity to join gaming specific acceleration and market entry programs through our ecosystem partner, AstroLabs, a leading tech ecosystem builder in the MENA region. 

Earlier this year, DMCC partnered with the global VC firm Brinc to provide members with access to USD 150 million in funding through their accelerator programs ZK Advancer and The Sandbox Metaverse. Those programs will also be open to DMCC Gaming Centre members developing games on blockchain and web3 technologies.  

 “Gaming is one of the fastest growing industries in the world, with nearly 3.2 billion people playing and spending a combined total of USD 196.8 billion in 2022. The size and growth of the industry today is staggering compared to when video games first appeared in the 1970s,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC. “These passionate communities are constantly looking for greater immersion and storytelling in their chosen form of entertainment. As our roster of gaming companies expands rapidly and as we see more of our DMCC Crypto Centre members enter the blockchain gaming space, there is no better time to formalize our efforts by opening the DMCC Gaming Centre. Through this facility, we will solidify Dubai’s position as a global hub for all forms of gaming and esports.”

Prior to this announcement UAE Cypher Capital and Phoenix Group  invested with others into the new blockchain Web3 gaming platform, Fenix Games. Led by a group of industry veterans from gaming, blockchain, and financial markets, Fenix Games plans to acquire, invest, and publish both existing games and blockchain games of the future. Cypher Capital also invested $1.5 million in Rekt Studios which is also taking Web3 gaming to a new direction.

Fenix Games is a next-generation games publisher facilitating the transition of the next billion gamers into a blockchain-integrated future. Whereas traditional, “Web 2.0” games have mature distribution platforms and markets that bring billions of players and developers together, Web 3.0 lacks the infrastructure, tools and support to facilitate mass adoption. As more and more quality developers embrace blockchain technology and design principles, we see an opportunity for the role of Publishing to elevate its value in the design, go-to-market and operations of games.

At the time Munaf Ali, CEO at Phoenix stated, “Despite the recent challenges in crypto, Cypher Capital Group remains optimistic and bullish about the future of web3 and blockchain projects.”

Global VC firm Brinc has offered crypto entities residing in UAE’s DMCC ( Dubai Multi Commodities Centre) Crypto centre access to a $150 million accelerator fund.

Brinc is a portfolio company of Animoca Brands, a global leader in Web3 and blockchain investment.

Members in the crypto centre at DMCC will  gain access to Brinc’s global network of innovative start-ups as well as business mentoring services from their new office in DMCC. The partnership will support the long-term and rapid growth of the companies that develop Web3 and blockchain technologies and associated value-added services at the DMCC Crypto Centre.

By providing an unparalleled environment for crypto entrepreneurs, SMEs and multinationals, the DMCC Crypto Centre has attracted over 450 crypto firms since its launch in 2021, making it the largest concentration of blockchain and Web3 businesses in the region.

 The DMCC Crypto Centre members operate in a broad range of sectors, using blockchain and Web3 technology in areas such as financial services, healthcare, entertainment, gaming and sustainability.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, stated, “We are proud to be partnering with one of the world’s leading VC firms in this space, and to meet the growing demand from our members to access funding, while also providing access to Brinc’s well-connected ecosystem. With so many global challenges occurring simultaneously, major businesses are focused more than ever on accessing state-of-the-art infrastructure within a comfortable working environment, which is exactly what DMCC strives to provide.”

Manav Gupta, Founder and CEO of Brinc, added,  “The newly launched Dubai Metaverse Strategy aims to support over 40,000 virtual jobs by 2030; while Dubai’s plan to use cutting- edge technology to improve efficiency and sustainability vastly appeals to Brinc, whose mandate since inception has been to discover and enhance businesses that creatively solve global problems. Our partnership with the DMCC will reveal a new pool of Web3 entrepreneurs and enable us to identify, empower, and invest in start-ups that shape the future based on a shared thesis and set of ideals.”

Yasin Aboudaoud, CDO and MP of Brinc MENA, commented “Brinc has an exceptional track record working with incredible partners such as the DMCC to progress innovative startups in a way that redefines sustainability while delivering tools, networks, and knowledge to some of the world’s most promising and innovative founders. Collaborating with the DMCC and its vibrant community at a time when MENA is welcoming blockchain and digital asset innovation is a hugely exciting prospect. The ability to build networks in Web3 – where community is king – will be invaluable to our mission.”

In H1 2022, DMCC broke all previous records by attracting 1,469 new member companies. Owing to the leading environment provided at the Crypto Centre, over 14% of these new company registrations were related to crypto activities.