The rapid growth of the cryptocurrency wave in the technology world and emergence of more sophisticated blockchain technologies has led to the rise of a new crop of incubators and accelerators that seem to serve this ecosystem.
The rapid growth of the cryptocurrency wave in the technology world and emergence of more sophisticated blockchain technologies has led to the rise of a new crop of incubators and accelerators that seem to serve this ecosystem. Some of these startups offer both funding and services while other provide services only. It is worth noting that some forms of cryptocurrency and odd token are used in some transactions in this ecosystem. The Waves Lab is the latest to venture into crypto acceleration market. They generated over $17 million in their most recent ICO. The Waves joins a host of other incubators that have invested heavily in developing the best ecosystem. This is a competition worth watching since each platform will be working towards attracting the best blockchain startups. Below are the major players in the new incubator world of crypto/blockchain startups.
1. The Waves Lab
The Waves Lab operates a blockchain-based token trading platform. They have promised to support pre-ICO teams and projects that are leveraging Waves Platform’s infrastructure to create solutions. The selected startups will receive portions of early funding of not less than $300,000. Apart from seed funding, they will also receive tech resources, outstanding legal advice, and PR/ Marketing. They will also ensure that their charges are in line with compliance requirements. The Waves Lab is set to experience stiff competition from other crypto accelerators such as Incubator Labs.
2. Incubator Labs
Thomson Reuters, an internationally recognized hub for news and information, developed a new startup incubator called Incubator Labs. This incubator opened its doors in Zug, a small municipality that forms part of the famous Crypto Valley in Switzerland. It concentrates on attracting blockchain companies. Through Incubator Labs, startups from distinct fields will enjoy resources such as Amazon web services, spacious office space, and mentorship at several locations. Incubator Labs has so far attracted two startup companies: Open Mineral and WealthArc.
• Open Mineral is a unique online marketplace that allows selling and buying of physical commodities directly, proficiently, and transparently. These commodities include copper, lead, and zinc. This platform does not charge a membership fee, and traders are required to pay a success fee only after completion of a transaction.
• WealthArc is an innovative investment management platform. Its advanced digital technology allows clients to grow AUM, computerize processes, and deal with new regulatory challenges. WealthArc offers pragmatic investment management solutions to independent financial advisors, family offices, and private banks.
3. NEM Foundation
Even the NEM Foundation, the founder of the NEM blockchain platform, has not been left behind. It has entered into a tactical partnership with Australia’s Blockchain Global that will see them launch a Kuala Lumpur, Malaysia-based Blockchain Center. This Center will act as a co-working space, accelerator, and an incubator. It will also focus on nurturing startups that are interested in utilizing the NEM platform. In 2018, the NEM Foundation is set to spend nearly $40 million to finance its global expansion initiatives. It will also allocate $5 million towards finding blockchain firms incubated under the Blockchain Center.
Other leading crypto accelerators include:
Adel – an internationally renowned cryptocurrency community, which is self-regulated and self-sustained. It has developed a competitive economic ecosystem using its Adelphoi token.
Bithub.Africa – a commercial blockchain accelerator is accelerating the implementation of blockchain solutions and technology throughout Africa.
Block Chain Space – runs a 12-week accelerator program in different locations.
Boost VC – an institutional fund that specializes in financing blockchain companies. It operates two accelerator programs each year. It invests nearly $50k and receives seven percent of the company in return.
Coin Apex – builds products by integrating state-of-the-art technology, software, and cryptography. This New York-headquartered firm provides a wide range of services, including advising and implementation.
Outlier Ventures – partners with entrepreneurs, consortia, corporate venturing partners, and accelerators to co-develop blockchain startups. Outlier Ventures Ltd serves as the research and commercial division to the venture platform that tracks more than 30 blockchain uses cases for Outlier Capital LLP.
Satoshi Studios – a competent incubator for Southeast Asia-based blockchain startups. The companies selected by Satoshi Studios are required to relocate to New Delhi, India, where they undergo a three-month incubation program. This program allows the selected companies to receive mentorship and training sessions from blockchain specialists. Satoshi Studio dedicates $50K for the three-month program, and in return, it receives between eight and fifteen percent of equity.