Neo Global Development is increasing the EcoBoost fund to US $200 million to bolster the onboarding of dApps, projects, and teams into the Neo ecosystem. NGD intends the funding increase to signal an expanding commitment to supporting high-potential projects building on Neo N3.
EcoBoost was designed to incubate businesses that drive the growth and success of projects that utilize the Neo blockchain. The program has supported dApps, platforms, and teams from within and outside the ecosystem through grants, technical support, and other incubation opportunities. John Wang, NGD head of Eco Growth, said:
The EcoBoost program works by building up a partner network to provide assistance to Neo-based projects. Neo welcomes all innovative and disruptive projects to build on N3 as we continue to expand our growing ecosystem and make the ecosystem available to the wider developer community, no matter what programming language they use.
NGD seeks any size team or entity that wishes to develop on, integrate with, or migrate to the Neo N3 blockchain. They can include small teams with innovative ideas and seed users, or medium-sized teams with mature business models and community user bases. While all types of projects are welcome, EcoBoost can also support media organizations, exchanges, wallets, dApp directories, educational organizations, and security experts.
Once onboarded, members can become eligible for lifecycle support, including funding of up to $50,000, technological assistance, community access, marketing support, token listings, stimulation of liquidity, and access to other industry resources. Interested parties can learn more about the application process on Neo’s Eco Support page.
History of EcoBoost
EcoBoost was instituted in 2019 with $100 million and a multi-phase plan to support and develop the Neo ecosystem. The first phase of the EcoBoost program initially attracted more than 50 liquidity, wallet, media, channel, community, and security partners.
In 2021, EcoBoost funded the N3 Early Adoption Program, designed to incentivize development on the recently launched Neo N3 blockchain. The program allocated $10 million for projects from within the ecosystem, existing dApps seeking to integrate with Neo, and winners from the Frontier Launchpad. Recipients included TOTHEMOON, Humswap, Rentfuse, TranslateMe, Defina Finance, GhostMarket, Saffron Finance, NekoHit, Polychain Monsters, and iMe Smart Platform.
In May 2022, Hacash Diamonds became the first project to join the Neo ecosystem through the reinvigorated program.
The full announcement can be found at the link below: