Venture capital firm launches blockchain accelerator for start-ups

Tribe Accelerator programme will focus on helping start-ups develop products such as apps or service solutions, especially in fields that lend themselves to wide adoption in society.
Tribe Accelerator programme will focus on helping start-ups develop products such as apps or service solutions, especially in fields that lend themselves to wide adoption in society.PHOTO: TRIBE SINGAPORE

Singapore venture capital firm Trive Ventures has unveiled an initiative aimed at fostering blockchain technology among start-ups.

The Tribe Accelerator programme will focus on helping start-ups develop products such as apps or service solutions, especially in fields that lend themselves to wide adoption in society, it said yesterday.

Eight start-ups will be picked for the initial cohort, with the incubation programme to kick off early next year.

Partners in the initiative include government body Enterprise Singapore, PricewaterhouseCoopers Singapore's Venture Hub and South Korean blockchain network Icon Foundation.

Trive Ventures - formerly known as Tri5 Ventures - typically invests in regional technology start-ups in the seed to Series A funding rounds.

It had previously worked with the Singapore Government as an accredited mentor to early-stage start-ups.

Mr Jonathan Lim, director of start-up and global innovation alliance at Enterprise Singapore, said in a statement that the agency welcomes more deep-tech accelerators.

"By working with Tribe Accelerator, we hope to create more innovative and disruptive blockchain start-ups to capture growth opportunities locally and overseas," he added.

A version of this article appeared in the print edition of The Straits Times on December 05, 2018, with the headline 'Venture capital firm launches blockchain accelerator for start-ups'. Print Edition | Subscribe