Enterprise Singapore has backed Tribe Accelerator, which grows blockchain-based startups and has garnered the support of companies such as IBM, Ubisoft and Citi as corporate partners. Tribe Accelerator helps these startups to scale and implement their blockchain-based solutions using its association with such global corporations. These blockchain solutions can either directly be integrated into existing business entities or be integrated into the end-user products of daily life so that everyday problems can be tackled effectively.
Tribe Accelerator said,
“The addition of IBM, Citi and Ubisoft into the corporate partnership-base will give participating start-ups greater access to international markets and resources beyond Singapore.”
The startups which benefit immensely from this usually belong in the media, healthcare, advertising and fintech industries. Tribe Accelerator has managed to raise USD 16.8 million for them through its global demo tour across Singapore, Shangai, Seoul and San Francisco. Companies such as Bluzelle, which provides distributed open-source database; Torus, which is a hub for digital identities; healthcare start-up Whitetech and many others have greatly benefited from the support.
Ng Yi Ming, managing partner at Tribe Accelerator, said on Wednesday:
“The success of the inaugural batch far surpassed our initial expectations. By ensuring all parties are aligned with a common objective, it has greatly reduced information overlaps and made solution integration prompt.”
As was previously reported on BitcoinNews.com, the blockchain accelerator had taken automobile industry giant BMW and technology corporation Intel as its corporate partners. The addition of these corporate giants will only increase the access of blockchain-based startups to the global market and resources, who can then make their blockchain solutions more accessible.
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