REAPING THE BENEFITS OF THE NEW INTERNET

Melbourne-based company YBF Ventures will use a $500,000 Australian Government grant to expand its innovation hub in support of Australian start-ups developing Web 3.0 technology.

Funding received through the Government’s Entrepreneurs’ Programme Incubator Support initiative will enable YBF to support ten Web 3.0 start-ups through its YBF Mesh Hub. The start-ups will have access to office space at YBF Ventures Melbourne headquarters, educational and advisory services, and access to a global network of investors.

Web 3.0 is tipped to fundamentally change the way developers create web applications and how people interact with those applications. Where Web 1.0 was essentially a place to access information and Web 2.0 improved user interactions, Web 3.0 will fundamentally change the architecture of the web through decentralised technologies.