Hashgraph Association Launches Million-Dollar Hackathon to Revive African Web3 Investment
The Hashgraph Association has launched a major hackathon initiative across 15 African countries, offering over $1 million in prizes to counter the sharp decline in Web3 investment on the continent. The Swiss-based organization aims to empower more than 10,000 developers, students, and entrepreneurs as Africa’s share of Web3 startup investments dropped from $474 million in 2022 to just $122.5 million in 2024.
Building Permanent Infrastructure for Growth
The hackathon represents more than a single competition event. Kamal Youssefi, co-founder and executive chairman of the Hashgraph Association, emphasized the initiative’s long-term vision for African blockchain development. The organization plans to expand the program annually, creating a permanent platform for Web3 ecosystem growth across the 22 countries currently supported.
The winning project will receive a $1 million prize, while all participants gain access to Hedera Academy training resources. Successful teams will receive customized venture building programs and tailored entrepreneurship support. These programs combine practical business skills with hands-on technical assistance specifically designed for the Web3 space.
Government Partnerships and Cross-Chain Collaboration
The Hashgraph Association has established partnerships with several African governments and ministries focused on digital transformation. The organization supports strategy implementation in Web3 education, professional training, technical infrastructure setup, and digital solution development. Current partnerships span Morocco, Nigeria, South Africa, Tunisia, Ivory Coast, and Kenya.
Despite promoting Hedera Hashgraph technology, the association maintains an open approach to other blockchain protocols. Youssefi confirmed that projects building on different platforms will not face discrimination. The organization believes in interoperability and cross-chain solutions, recognizing that future blockchain platforms must interact seamlessly across different distributed ledger technologies.
Recommended