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Aeternity Blockchain's Venture Arm to Invest $1.3 Million into 9 Crypto Projects
AETERNITY Blockchain platform investment arm, AETERNITY Venture, is set to announce an investment plan totaling to $1.3 million for nine different startup projects. AETERNITY Venture announced that the nine projects were part of the entities that made it to the finals of the completed month-long AETERNITY Starfleet incubator program.
The Starfleet incubator plan official launch was back in June, and the process saw plenty of venture applicants whereby the most viable projects made up a shortlist of only 17 ventures. Nine out of the final 17 selected will present their concept to a potential audience made up of possible investors.
AETERNITY's announcement lists the nine projects as the most viable projects by a handful of applicants, and each project will receive mentorship from the AETERNITY development team over the incubation period.
UTU Technologies, a trust ecosystem for a sharing economy, is set to receive $200,000 in investments from AETERNITY incubator program. The AMPNet platform, an integrated hardware and software protocol will also receive a total investment of $100,000 as initial financing. Additionally, UTU Technologies and AMPNet were successful in securing an additional investment of $50,000 from AETERNITY's Venture partner network and online angel investors. The rests of the projects; TraDEXsocial, Ride Safe Africa, NOBLE, TRIBE, Data2Honey, and YAIR will share out the remaining $1,000,000 in a distributable manner.
CEO of AETERNITY Ventures took time to express the support and potential outcome of the upcoming projects in a statement that accompanied the official announcement. He reiterated.
"We were delighted to welcome the visionary teams from the likes of Croatia, Kenya, and Austria, as well as investors and industry enthusiasts to the final event of AETERNITY Starfleet 2018 in the beautiful Sofia Tech Park in Bulgaria. I have been very impressed by the passion, dedication and far-reaching potential of the nine teams that have made it to the final of AETERNITY Starfleet. The finalists' projects have demonstrated an innate ability to take our feedback and fine-tune the business model and roadmap accordingly."
Background On AETERNITY Blockchain
AETERNITY Blockchain was established to deliver on efficiency, global scalability, governance and transparency for users looking to invest in legit crypto projects, decentralized autonomous organizations, decentralized application and smart contracts. Another primary entity of AETERNITY is the Starfleet Incubator program that works to support a global blockchain ecosystem of investments by connecting innovators, investors, and enthusiasts on a single network within Starfleet.
Meet Aeternity Starfleet: Blockchain Incubator & Investment Program
This major tech company has been on the forefront of the creation of a new generation of scalable smart contracts for the blockchain. And in the latest move by the innovators, the company has released a new platform known as æternity Starfleet. Æternity Starfleet has been described as a “series of incubator and accelerator programs” set to contribute new and innovative technologies to the current network.
The new program is part of an ongoing effort by the company to build a consistent network of “innovators, investors, and industry enthusiasts” who would be united under a common interest in fortifying the smart contract system made by æternity. Rather than a set group of investments, this program will allocate up to $250,000 USD to companies all over the world. Additionally, æternity will provide such companies with the working space necessary to conduct their research.
Evidently, the support will come in varying waves. The first group of investments will happen on June 11th, the company providing groups with four weeks of training and guidance before allowing the researchers free reign.
About Aeternity's Starfleet
Another major aspect of æternity’s new announcement is their commitment to education on blockchain technologies and project development. They have opened an ongoing relationship with Software University, a Bulgarian educational institute which prides itself on emphasizing modern technological education and research.
The company outlined that this relationship will be helpful to develop a new class of professionals interested in facilitating the education of businessmen with a vested interest in developing blockchain technologies to innovate and reform the ecosystem.
Hristo Tenchev, founder of SoftUni, elaborated to say that the partnerships created through this program will help to incentivize innovation on the blockchain startup economy. He highlighted in an official statement that the concentration of entrepreneurs brought together in the Starfleet project will maximize the efficiency of a growing body of research in the field.
The announcement also outlined the organization’s creation of a new entity tasked with regulating and managing the global integration of the program. Æternity Ventures is in charge of the creation of new partnerships with research groups all over the world.
Applying For Assistance
The organization has not limited their investments to a closed number of undisclosed higher-tier research companies. Instead, they have published an open call for support from æternity. Interested researchers are able to create an account using their Facebook, LinkedIn, or email, before supplying Starfleet with the necessary information regarding their company’s research efforts.
The new subsidiary project of the company is being run out of Sofia, and will work closely with Software University to vet, fund, supply, and educate the parties which are accepted to the coveted program in the coming years.
Æternity’s work on the scalable smart contract technology has created major interest within the cryptocurrency community. But they cannot do it alone; fixing the scalability problem on the blockchain will require the help of the newest generation of blockchain professionals.
æternity Starfleet may well be solution to some of the technical problems at the forefront of æternity innovation.