The Singapore government and its blockchain accelerator Tribe recently helped raise another $15.7 million for participating companies through the ecosystem. As a press release shared with many crypto news outlets shows, Tribe Accelerator revealed that a total of $28 million had been raised to date in order to support startups around the world which are attempting to solve real-world problems with blockchain.
The first group of startups apparently raised around $12 million within three months. The Singapore government and the managing partner of Tribe Accelerator named Ng Yi Ming commented:
“Another successful round of fundraising underscores the relevance of blockchain technology in solving real-world problems. Every idea or solution shared during the Demo day has the potential to revolutionise the way the linked industry works in the present. We will continue to harbour companies with transformative innovations, that can change the face of the blockchain industry and benefit the end-user — making the technology more mainstream.”
Tribe is an organization that helps blockchain startups in their growth stage by connecting them with major corporations. It was launched in December 2018 as the brainchild of Tri5 Ventures, a venture capital firm which aims to support later-stage startups.
Ever since its launch, Tribe Accelerator received support from the Singapore government as well as corporate partners such as the big four accounting firm PwC, the South Korean blockchain network Icon Foundation, BMW Group Asia and others.
As of recently, IBM, Citibank and the video game producer Ubisoft also joined as corporate partners for the second edition of Tribe’s four month program. Tribe also partnered with the non-profit arm of the Tezos cryptocurrency in November this year.
The Tezos news then showed that Tezos Southeast Asia (TSA) announced its collaboration with Tribe in order to launch a training program for developers on the Tezos blockchain. With this, the Tezos team also hopes to attract more developers and create blockchain based solutions for real world applications.
“By enabling trainers with a good knowledge of Tezos blockchain technology, they will be able to amplify the impact in their respective teams through the continual transfer and sharing of knowledge to new learners,” the president of Tezos said at the time.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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