Papua New Guinea has yet to encourage a start up hub. However their have been some initiatives in that direction. read more
Papua New Guinea has yet to encourage a start up hub. However their have been some initiatives in that direction. For example, the Kumul Foundation created the Kumul Game Changers program to find and incubate entreprueners and their ideas and help them develop until they were ready to recieve funding for their ideas by pitching to a panel of investors. read more
25-year-old Papua New Guinean entrepreneur Shane Ninai has partnered with American venture capitalist Tim Draper to create the blockchain startup Day One Investments, which aims to foster financial inclusion in Papua New Guinea where it is estimated only 20 percent of the population has bank accounts, and alternative currencies such as shell money are still recognized. read more
The pilot province of the startup is in East New Britain, which is the second largest financial hub in the country. Since blockchain technology and the alternative economy of Papua New Guinea are based on the same tenets, microfinance institutions understand and are more willing to adopt the technology. read more