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Enterprise Singapore, a government agency created to develop the startup ecosystem, is supporting a new blockchain acceleration program called the Tribe Accelerator.
Announced Tuesday by TRIVE Ventures, a venture capital company oriented to Southeast Asia based in Singapore, the accelerator was launched in partnership with the ICON Foundation of South Korea, as a technical partner, and the Venture Hub of PwC Singapore.
Trying to drive the widespread adoption of blockchain technology throughout Asia, Tribe Accelerator aims to help startups achieve "applicability and the impact of the real world" beyond considerations techniques such as smart contracts and interoperability.
It also aims to provide a platform for traditional businesses and government agencies to work alongside upcoming blockchain projects.
"As the accelerator targets early-stage startups after Series A funding rounds, Tribe will offer significantly more value as it provides start-ups with access to its network of government and corporate mentors, technical support, technical talent and ultimately global exposure, which will help incubated startups translate their blockchain concepts into real products, "TRIVE's partner Ng Yi Ming told CoinDesk.
The program is scheduled for the official launch at the beginning of 2019, the company said, adding that, for the first group of companies, it will not take equity or charge a stake.
"Working with the Tribe Accelerator, we hope to create innovative and disruptive blockchain startups to seize growth opportunities locally and internationally," said Jonathan Lim, director of startups and global innovation alliance of Enterprise Singapore.
Image of Singapore via Shutterstock
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