Hong Kong Welcomes PolkaPort East, Furthering Polkadot’s Decentralized Ecosystem Development

PolkaPort East has been awarded a grant by Web3 Foundation, an entity dedicated to supporting the growth of the Polkadot ecosystem. The Decentralized Futures (DF) grant aims to promote Polkadot’s decentralization by driving technical advancements, fostering community growth, and encouraging wider adoption within the ecosystem.

PolkaPort East is a separate organization spearheading Polkadot’s investor relations and growth initiatives, focusing on Hong Kong and the Greater Bay Area. This grant from the Web3 Foundation marks a significant milestone for an organization based in Asia, as it is the first of its kind to be received.

The grant will help PolkaPort East spearhead investor relations and drive growth for Polkadot in the region. The mandate also involves promoting Polkadot and its technology while serving as a crucial regional catalyst for capital flow into the ecosystem.

Max Rebol, co-founder of PolkaPort East and CEO of Harbour Industrial Capital, a Polkadot-focused VC fund, said: “The launch of PolkaPort East comes at a crucial moment for Polkadot. It represents a critical step towards increasing the network’s decentralization while strengthening the ecosystem’s strategic position in Hong Kong. Thibault Perréard, also a co-founder who heads up strategy for Bifrost, a leading Polkadot parachain added: “With the support of the DF grant, PolkaPort East will be tapping into the thriving innovation hubs of Hong Kong and the Greater Bay Area while engaging and fostering relationships with local governments, global enterprises and capital allocators of the region.”

Vincent Chan, the third co-founder of PolkaPort East and an experienced leader in the crypto industry, shared that after receiving the DF grant, the initiative aims to attract participants to the Polkadot ecosystem in Asia. These encompass various projects and developers interested in building on Polkadot, alongside Polkadot-native VCs, funds, capital allocators, and general web3 investors. In addition, it aims to reach out to blockchain collectives and associations in Asian universities, fintech companies looking to venture into web3, and local governments interested in exploring the potential of blockchain technology.

Speaking on behalf of the Web3 Foundation, David Hawig, the Director of Ecosystem, stated, “The Web3 Foundation is thrilled to support the Polkaport East initiative through a Decentralized Futures grant. This project exemplifies our commitment to fostering decentralized access and innovation within the Polkadot ecosystem. We believe Polkaport East will play a pivotal role in enhancing connectivity and empowering the community in Hong Kong, driving forward the vision of a truly decentralized internet.”