The accelerator will target later-stage startups

Singapore-based VC TRIVE Ventures has announced today the official launch of its blockchain accelerator, Tribe Accelerator.

The accelerator features a six-month programme and will target later-stage startups. It will focus on helping these blockchain startups accelerate product development and increase adoption of blockchain solutions in the mass market.

Tribe Accelerator, which is backed by Singapore government agency Enterprise Singapore, will also connect the startups to various government agencies and traditional companies.

Through its accelerator, Tribe aims to “to generate greater public awareness of the benefits and relevance in the everyday use of distributed ledger technology through the usage of decentralized applications (dApps) or backend digital solutions.”

Eight startups will join Tribe’s initial batch. They will gain access to business mentors, technical support, technical talent, global exposure through a series of web contents and a global demo tour.

PwC Singapore’s Venture Hub and ICON Foundation have signed on as partners of Tribe.

ICON is a blockchain foundation that previously partnered with TRIVE in May this year to co-develop blockchain courses for the latter’s programming schools, Upcode Academy Singapore and Coder School Vietnam.

For Tribe, ICON will serve as a technical partner, aiding the incubated startups in translating their blockchain concepts into real products.

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Tribe will officially kick off with an invite-only launch event for its incubated companies in Q1 of 2019. Thereafter, incubated companies will participate in a global demo tour across Singapore, South Korea and Japan (with more to follow).

The tour will allow startups to rigorously test their solutions in real-world market conditions. They will also be able to exchange best practices and ideas with blockchain startups in other markets.

“Blockchain technology is fundamentally changing the way things work globally, with companies from numerous industries having already adopted blockchain technology and many more expected to be in the coming years,” said Yi Ming Ng, Partner at TRIVE.

“With the support of Enterprise Singapore, we want startups incubated under Tribe Accelerator to become success stories at the front of Singapore’s changing business landscape,” he added.

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Image Credit: Tribe

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