Bluehill Startup Incubator Raises $50 Million for IOST Blockchain Funding
Global Blockchain Startup Launches, $50 Million in Funding
Bluehill is a platform for the creation of global blockchain projects. After a massively successful funding run, the company launched Thursday with a significant amount of money to back it. The IOST blockchain ecosystem is the host technology being backed by the incubator project, and it has significant potential for interest and applications within the crypto community.
Starting now, the organization will be taking applications for startup programs all year. Average investments are around USD $500,000, and can follow-up with the low-end of a few million dollars. This could be huge for startup projects looking to find a new way to fund their projects without having to resort to the ICO market, which continues to lose investor interest due to low faith and the high probability of scams.
Additionally, the project will be aided in its funding efforts by a newly-announced partnership between the company and Binance Labs, as well as Huobi Capital. If this new set of partnerships becomes legitimate, it could mean much more than $500,000 investments from the venture capitalist firm in the near future. These major funding organizations have contributed to the funding processes of hundreds of crypto startups, and it they could surely aid in the new efforts of Bluehill and the IOST blockchain.
Though the organization is trying to provide startups with the funding necessary to innovate a changing blockchain ecosystem, there are some stipulations for its funding. The company outlined in an interview with CoinDesk that they are open to a variety of projects, and that they are willing to provide for the finances, marketing fees, and recruitment needs of the companies which they fund.
The funding organization hopes to get in early on some of the newest projects on the blockchain, carefully screening and evaluating potential partners to find the best opportunities for involvement. In particular, the company seems to be interested in picking projects that align with their own interest and provide for optimum endurance and trust between the potential partners.
Bluehill has actually already funded a set of projects, according to some sources. Two of these projects are build using the IOST blockchain, whereas the others have not yet decided which platform they’d like to build their project on.
The IOST blockchain platform allows users to build blockchain applications on a decentralized ledger, providing a new alternative to the most popular existing protocols, including Ethereum. The main difference between this platform and existing models by technologies like Ethereum is that IOST is meant to provide a scalable solution to blockchain tech.
Bluehill has been moderately successful in furthering the interests of their project. They currently have fifty staff members, as well as offices in at least four countries. Additionally, the protocol’s project has won the support of investors all over the world.
The company has big plans for expansion, too. They project that, by the end of the year, they will employ over 100 employees all over the world.