Fidelity-Backed Blockchain Accelerator Attracts Over 50 Mentors

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by Janis Rijnieks · 3 min read
Fidelity-Backed Blockchain Accelerator Attracts Over 50 Mentors
Photo: IDEO CoLab / Medium

The blockchain accelerator program called Startup Studio which is backed by Fidelity Investments and 20 other companies, has managed to attract over 50 mentors.

Just recently IDEO CoLab announced the launch of its new blockchain accelerator program called Startup Studio. It is backed by Fidelity Investments and 20 other organizations and protocols in the space such as Ethereum Foundation, Blockchain Capital, Messari, and others.

Startup Studio is meant to help blockchain startups and entrepreneurs to grow by conducting workshops of product design, law and engineering, smart contract development, finance and hiring, and other important fields.

“Last week you met our blockchain Startup Studio’s 20+ partner organizations, but today we’re excited to share the humans behind them—and many more—who deeply care about the blockchain community and helping entrepreneurs and developers in it succeed,” writes Ian Lee from IDEO CoLab Ventures.

The new Startup Studio has attracted more than 50 industry professionals who are going to help advise, mentor, and coach startups in the blockchain space that are participating in the Startup Studio.

These mentors include the CEO of Stellar Development Foundation, Denelle Dixon; ecosystem support from Ethereum Foundation, Robbie Bent; the CEO of Messari, Ryan Selkis, and many others.

Fidelity Investments, not Fidelity International

Many confuse Fidelity as such thinking about Fidelity International, however, this is not the case. Fidelity International has a parent company in Boston called Fidelity Investments and these are separate companies, clarifies Craig Terrington, the corporate communications associate director at Fidelity International.

“It’s been widely reported that Boston-based, Fidelity Investments, is active in this space. Fidelity Investments and Fidelity International are separate companies,” says Terrington.

While Fidelity Investments has recently acknowledged Bitcoin and digital asset trading as such, Fidelity International is being more careful and admits that at the moment, they are only exploring the potential of blockchain technology.

“Fidelity International, like many others in the industry, is actively assessing the wide-ranging potential for blockchain technology, but we do not have any current plans to launch any crypto initiatives,” explained Terrington.

However, while it may seem that Fidelity International is refraining from engaging with blockchain and cryptocurrencies, they have an internal Bitcoin trading game within their employees called “Cryptoleague”. Basically, it is a trading simulator where each participant is given $10,000 in virtual money. Then players can trade with this initial amount and build their portfolios. Those who succeed in substantial profits, get to win cash prizes. Out of 8,000 Fidelity International’s employees, around 1,200 are already playing it.

“We have a bitcoin trading game that we use internally, as a way of teaching people about distributed ledger technology and digital tokenization, which ultimately will be an important part of the whole financial system going forward,” explained the CEO of Fidelity, Anne Richards.

As Forbes write, it is now harder to find a company which is not playing around in the blockchain space rather than the ones who remain distant about it. If such large enterprises as Fidelity is playing Bitcoin-related games internally, it is only a matter of time when Bitcoin and crypto become massively mainstream.

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Janis Rijnieks

Janis is a cryptocurrency enthusiast and a bitcoin adherent. He has a background in video production, but for the past couple of years, he is a full-time crypto researcher and writer. He has a good understanding of multiple cryptocurrencies and loves to cover daily news. He considers himself a semi-bitcoin maximalist but always is open to any kind of new ideas that could be put on the blockchain. In his free time, he likes skateboarding and cars.

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