Hedera Hashgraph announced the launch of its new startup program "Hedera Boost" to help startups access exclusive mentorship opportunities, technical support channels and network with the Hedera community.

Hedera will provide eligible startups with $1,000 USD worth of hbar --  the native cryptocurrency of the Hedera public network -- to cover initial transaction costs of startups and help them quickly bring app to market and start finding product market fit without hurting burn rate.

Hedera Hashgraph strongly believes that minds wanting to build on next generation platforms should not be bogged down by problems on their journey to a successful launch. Hedera Boost, Hedera Hashgraph's StartUp Program is a step in that direction. It's open to all who are "the process of planning, building, or launching an application that uses Hedera." 

Hedera Boost can help startups in three major areas:

  • Technical guidance and ecosystem tools 

  • Marketing and business development support 

  • Subsidizing transaction fees 

Gehrig Kunz,Product Marketing Manager at Hedera, wrote in a blog post, "It's in these three areas that we’ve designed the first iteration of Hedera Boost to help provide. We’ll work with your startup to understand the right architecture for your project and help you overcome technical hurdles with one on one support. 

Then, when you’re ready to launch, we’ll be ready too. We'll provide your project with $1,000 USD worth of hbar to cover your initial transaction costs. Letting you quickly bring your app to market and start finding product market fit without hurting your burn rate." 

EarthID, a decentralized identity management platform built on 3rd generation DLT Hedera Hashgraph, joined the Hedera Boost as a community resource to help startups in making user onboarding, authentication and KYC processes efficient. 

Startups can leverage Hedera's marketing resources and increase awareness through PR, blogposts and other Boost related activities. They also get access to exclusive mentorship opportunities, technical support channels, and network with the Hedera Boost community. Hedera Boost is not an incubator or accelerator. But Hedera intends to join hands with bodies like the Helix Accelerator to facilitate sponsored hackathons. 

Earlier this month, EarthID has won the "Best Use of Blockchain in Financial Services" at India FinTech Awards event. The award is for recognizing an innovative Financial Institution in India which has utilized blockchain for solving complex business problems.



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