MANTRA Launches Incubator Program at Dubai World Trade Centre (DWTC) in Partnership with Virtuzone

4 min readApr 16, 2024

As the MANTRA Incentivized Testnet–Hongbai is running in full swing, we are thrilled to announce the launch of the MANTRA Incubator program at the Dubai World Trade Centre (DWTC), a major step forward in our ongoing commitment to fostering innovation in the Real World Asset (RWA) tokenization sector, especially in the MENA region.

Launched in partnership with Virtuzone — the leading corporate service provider in the United Arab Emirates — the MANTRA Incubator program is aimed at setting up a stage for innovation in the Web3 space, enabling promising dApps/projects/teams/founders to leverage resources, networks, and a nurturing environment in one of the most vibrant crypto scenes globally. This initiative follows our successful $11 Million funding round led by Shorooq Partners and marks a pivotal moment in our journey to nurture emerging projects within the MANTRA ecosystem and beyond.

Sign up for the MANTRA Incubator Program here.

George Hojeige, Group CEO of Virtuzone commented on this– “Our milestone collaboration with MANTRA and this pioneering incubator project echo our commitment to creating a conducive environment for Web3 start-ups to grow, thrive and scale exponentially. Our vision is to increasingly pivot towards a tech and innovation-driven growth strategy and establish ourselves as a pillar of support for Web3 and fintech development, not only in the country but across the region.”

What does the MANTRA Incubator Offer?

Through the MANTRA Incubator Program, we’re not just extending support; we’re providing a robust system to ensure the success of the most 5 innovative and distinguished projects that will receive a comprehensive suite of benefits, such as:

  1. Seed Investment: Each project will benefit from a seed investment of $100,000 personally funded by our CEO & Co-Founder, John Patrick Mullin, demonstrating his commitment to the success of the program and the successful onboarding of buzzing talents in the space.
  2. Expert Guidance: An experienced project manager will oversee each project’s progress, offering expert advice and support.
  3. Global Exposure: The journey begins in Dubai at our incubator space in the DWTC, then moves to our offices in Hong Kong and culminates in San Francisco, providing exposure to diverse tech ecosystems and industry leaders.
  4. Extensive Network Access: Participants will gain access to a vast network of industry experts, developers, influencers, and venture capital firms, alongside strategic partnership opportunities and regulatory connections.
  5. Marketing and Technical Support: We will assist selected projects with everything from product feature refinement to robust marketing strategies and business development, ensuring a smooth transition from concept to market.

After a meticulous selection process, the projects will receive the comprehensive support of the program following their successful integration into the MANTRA Chain.

We encourage developers to apply for our incubator program if you’re keen on building projects like:
1. Lending Protocol
2. CDP Protocol
3. Real Estate Perps
4. GMX-Style Perps
5. Yield Splitting Protocol

The structure of the program is as follows: during the first month, developers and their teams will work from Dubai; the second month from Hong Kong; and the third month from San Francisco, leading up to launch on the Mainnet. MANTRA will provide support for building and operating throughout the incubation period.

Why Dubai and Why Now?

Dubai is positioning itself as a hub for cryptocurrency innovation and development. Located in the Sheikh Rashid Tower at DWTC, our incubation space spans over 17,000 square feet in the building’s Maktabi business center, aligning perfectly with Dubai’s role as a crypto innovation center.

The UAE envisions having 10 unicorns by 2030, and we are excited to contribute to this vision alongside the government. Neil Petch, Chairman and Co-Founder of Virtuzone, shares this enthusiasm, stating, “We have seen the unprecedented growth potential of Web3 companies in recent years, especially in specialized areas such as AI, big data, and machine learning. As a forward-looking company, we aim to be early movers in this space and build the necessary infrastructure for Web3 start-ups to launch and scale. The UAE envisions having 10 unicorns by 2030, and we aspire to work in unity with the government in realizing that vision,

John Patrick Mullin, our CEO and Co-Founder also shared his enthusiasm, “We’re building a holistic platform for innovation in the web3 space, enabling promising companies to leverage resources, networks, and a nurturing environment in one of the most vibrant crypto scenes globally.”

Together, with our partners and the projects we incubate, we aim to redefine the boundaries of what is possible in the Web3 space. Are you ready to become a part of this innovative journey and make your mark in the world of Web3? If you’re working on a project that fits into the RWA sphere and are looking for an environment that fosters growth and innovation, we encourage you to sign up for the incubator program. Let’s create a world where technology serves as a bridge to a more inclusive and efficient future of finance and asset tokenization.

About Virtuzone:

Virtuzone ( is the UAE’s first and largest company formation specialist and an award-winning corporate service provider. Established in 2009, Virtuzone has set up the companies of more than 70,000 entrepreneurs from 180 countries. With over 200 staff members speaking 40 languages, Virtuzone provides end-to-end company formation and corporate services, ranging from trade license and visa processing to bank account opening, tax consultancy, compliance, accounting, legal services, and more. Virtuzone is part of Virtugroup, a Dubai-based holding company that comprises Virtuzone Accounting and Tax, VZ Real Estate, VZX, and Next Generation Equity, which offers citizenship and residency-by-investment programs.


MANTRA is a security-first RWA Layer 1 Blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.

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