Singapore Government Agency, PwC and Others Back New Blockchain Accelerator

| Updated
by Sofiko Abeslamidze · 3 min read
Singapore Government Agency, PwC and Others Back New Blockchain Accelerator
House of PWC. Photo: Andreas Wecker / Flickr

A joint initiative of Singaporean government and global enterprises, Tribe Accelerator is going to provide technical guidance for the large-scale blockchain startups starting next year.

Although some counties, including China, are so desperate to get rid of ICOs, cryptos and all that comes with them, Asia is still rife with blockchain-enthusiasts. For example, the two most prominent representatives of Asian Dragons, Singapore and Taiwan put much efforts to embrace the disruptive blockchain technology and ICOs.

Previously, Coinspeaker stressed the remarkable willingness of Singapore’s authorities to elaborate effective ICO frameworks that will not only comply with the financial law but also foster the blockchain adoption.

Considering the fact that ICOs have repeatedly come under fire for smoothing malicious activities like money laundering and terror funding, Singapore’s financial watchdog did a great job filtrating well-behaved ICOs from the villainous one.

Government-backed Blockchain Accelerator

However, it does not plan to stop at that point, as Singapore’s friendliness towards the blockchain technology goes even further. The leading government agency responsible for startups development announced its support for a new blockchain accelerator program dubbed Tribe Accelerator.

Enterprise Singapore together with South Korea’s ICON Foundation and PwC Singapore’s Venture Hub partnered a Singapore-based VC firm, TRIVE Ventures for this incentive.

The program is scheduled to officially launch in early 2019. Tribe Accelerator will accumulate a batch of eight large-scale blockchain projects providing them with first-class business mentors, technical support, technical talent, global exposure through a series of web contents and a global demo tour across Singapore, South Korea and Japan and 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.

Speaking on the current stance of the global blockchain community Yi Ming Ng, Partner at TRIVE said:

“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.”

The accelerator features a six-month programme that primarily focuses on helping these blockchain startups accelerate product development and increase adoption of blockchain solutions in the mass market.

As it’s been stated by Tribe’s official representatives, by the means of its accelerator, Tribe aims 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.

On the behalf of Enterprise Singapore, Jonathan Lim, a Head of Startup and Global Innovation Alliance said the recent partnership with Tribe Accelerator is going to create more innovative and disruptive blockchain startups to capture growth opportunities locally and overseas.

Notably that the first eight lucky startups participating in Tribe Accelerator won’t be charged with any tuition fee. Therefore vast swaths blockchain firms are likely to form a queue at the advent of Tribe’s launch.

Blockchain News, News
Sofiko Abeslamidze

Sofiko is a freelance fintech copywriter at Coinspeaker. With a Bachelor degree in International Business and Economics, Sofiko has been deepening her knowledge of an agile innovative industry primary focusing on the robust blockchain technology and cryptocurrencies. As a bank employee, Sofiko particularly keens on crypto and blockchain integration into the established banking systems.

Related Articles