Participants in Singapore's government-sponsored Tribe Accelerator will now include BMW Group Asia, chip maker Intel, and information and data analytics company Nielsen.
According to the English-language newspaper Tech in Asia, Singapore's blockchain accelerator is backed by the government and operated by a local venture capitalist firm, Trive Ventures. The accelerator is product-based and is intended to help startups collaborate with enterprises that may be interested in blockchain-powered products. The Tribe Accelerator is partially funded by Enterprise Singapore, which is a government entity focused on developing the country's "startup ecosystem," and also receives support from accounting company PricewaterhouseCoopers' Singapore Digital Hub as well as Icon Foundation, a blockchain network out of South Korea.
Per Tribe Accelerator, the initiative was first launched in December 2018 and has already partnered with ConsenSys. The addition of BMW Asia Group, Intel, and Nielsen can only help Singapore's efforts to strengthen its blockchain industry.
According to NewFortuneTimes.com, Intel will help participating startups by showing them how to best use Intel's blockchain-powered products to enhance their own technologies and provide better technical solutions; BMW Group Asia will provide "masterclasses" and "mentoring sessions" for startups interested in using blockchain technology in the mobility sector; Nielsen will develop a sandbox where startups can test their ideas and products without fear of violating existing laws and regulations.
The three companies will also share knowledge and expertise in each of their industries through several events organized by Tribe Accelerator, including a "global demo tour spanning Singapore, Seoul, San Francisco, and Shanghai."
Speaking to NewFortuneTimes.com, Ryan Chew, managing partner of Tribe Accelerator, said:
"We have a vision of how the technology – an enabler of cross-sector innovation with transformative potential – can be beneficial in the everyday lives of people. To move forward as a society, we need to encourage experimentation, and once the benefits of blockchain technology become evident, mainstream adoption will undoubtedly follow."
Other countries have developed blockchain accelerators. In June 2018, a blockchain accelerator dubbed Chain Accelerator launched in France. In January of this year, UC Berkeley announced a collaboration to develop the Berkeley Blockchain Xcelerator.