Australia’s first Web3 Innovation Centre to build a sustainable future for Web3 startups

Australia’s first Web3 Innovation Centre to build a sustainable future for Web3 startups

Stone & Chalk Group, Australia’s largest innovation community and home for emerging technology, has today announced a new partnership with the Australian DeFi Association to launch the nation’s first Web3 Innovation Centre early next year, helping support Web3 founders and their businesses navigate shifting market and economic conditions.

The launch of the new Innovation Centre in early 2023 comes following 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 one thousand 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 Australia-first partnership between Stone & Chalk Group and the Australian DeFi Association 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 Australia’s first Web3 Innovation 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 leaders and governing bodies to reset and review the opportunities of a regulated, transparent Web3 ecosystem.

Australian DeFi Association Co-Founder, Mark Monfort, said, “Our expansive network of community members responded extremely strongly to the prospect of dedicated Web3 centres across Australia, so it’s incredibly exciting to see this ecosystem come to fruition with the Stone & Chalk Group. The Innovation Centre will present a chance for leading startups and founders to add impactful decentralised apps to rich ecosystems like Ethereum, moving us beyond simply running meetups and attending conferences. We’re excited to bring blockchain technology into the original home of Australian fintech startups and see this as a natural progression showing Australians that blockchain and tokenisation are simply financial infrastructures designed to innovate and challenge.”

Australian DeFi Association’s members will have the opportunity to share space with the wider Stone & Chalk Group founder community including companies operating in various areas of emerging technology such as space, AI, quantum and climate change. The new home for Web3 startups will provide a vast array of services, acting as a central point for investors, media, corporates and government to connect with Web3 founders driving the future of digital technologies. Additional services for Web3 startups include pitch nights, workshops, networking sessions and Web3 masterclasses.

Additional bespoke offerings will also be made available at the Web3 Innovation Centre through NotCentralised (the for-profit sister organisation to the Australian DeFi Association) to Web3 founders. These services include:

  • Web3 business design and development
  • Advice on smart contracts
  • Tokenomics and DAO governance
  • Community building
  • Software and development, dApp development
  • Capital Advisory (business roadmap reviews and associated funding needs, crypto-friendly institutional investor relationships, non-banks, crypto funds, and governance structures)