The new partners will provide expertise to the startups selected for support
On March 22, 2019, Singapore media outlet Tech In Asia said that the local government-promoted blockchain accelerator Tribe had started cooperation with companies BMW and Intel. They reportedly become two major strategic partners of Tribe.
Tribe, which started functioning in late-2018. It was developed by Tri5 Ventures, a venture capital company which aims to support later-stage startups. Up to the moment, the accelerator had PwC and South Korean blockchain network Icon Foundation among its partners.
Newly gained partners, BMW and Intel, will thoroughly assess startups selected for support. BMW will focus on the motor-car industry, while Intel will provide expertise in the blockchain and cryptocurrency mining sectors.
One other partner, data management giant Nielsen, will develop a sandbox sharing knowledge on regulatory compliance risks and other important moments that must be considered when preparing a blockchain product for market.
The initiative is in accordance with numerous blockchain-related events and moves finding a home in Singapore’s regulatory environment, which is rather nice accommodation for the technology.
Author: Alena Snezhnaya