RAK DAO Launches Builder’s Oasis Accelerator with $2M to Boost Web3 Startups

RAK Digital Assets Oasis (RAK DAO), a free zone for digital assets companies located in the emirate of Ras Al Khaimah, has launched its inaugural accelerator program - Builder's Oasis.

With a funding pool of USD$2 million, this program is designed to support Web3 startups in the gaming, AI, and blockchain infrastructure sectors.

The program aims to attract over 150 global applicants, with high-potential startups to be shortlisted. Select participants are eligible for USD$100,000 in funding from the blockchain platform XDC, alongside guidance from RAK DAO's network of ecosystem partners.

Applications for Builder's Oasis will be open until the end of February 2025, after which shortlisted teams will be invited to participate in exclusive demo days in Dubai and Ras Al Khaimah. These demo days will culminate in a final showcase during the weeks leading up to the upcoming TOKEN2049 in April 2025.

Luc Froehlich, Chief Commercial Officer of RAK DAO, stated, "Having worked closely with startups across the globe, I've witnessed how resources and mentorship can transform raw ideas into industry-shaping solutions. By providing funding, fast-track licensing, and a supportive community, we're paving the way for blockchain, AI, and gaming ventures to flourish in Ras Al Khaimah and beyond. Our vision is to create a global nexus of forward-thinking founders who aren't just building projects, but defining the future of decentralized technology".

Ritesh Kakkad, co-founder of XDC Network, added, "At XDC Network, we've always believed in the power of pragmatic, real-world adoption for blockchain. 'Builder's Oasis' aligns perfectly with our focus on delivering tangible solutions that bridge traditional finance and decentralized systems. Through this accelerator, we aim to empower startups to push boundaries—whether it's in trade finance, tokenization, or next-generation gaming."