Emurgo and SOSV Introduce a New DLT Accelerator Known As dLab:emurgo
SOSV is an early stage VC known for running various top startup accelerators like Food-X (food technology), HAX (hardware), Chinaccelerator (Asian market entry) and IndieBio and RebelBio (life sciences) recently entered into a partnership with Emurgo. The latter is a commercial venture development branch managed by Cardano blockchain ecosystem.
The partnership between the two companies led to the creation of dLab::emurgo. This is the latest venture studio and distributed ledger technology startup. The program, which is based in New York City is expected to combine Emurgo’s expertise in developing blockchain applications for the commercial environment with the strength associated with the Cardano platform.
What this means is that the Cardano platform will be bringing on board their SOSV acceleration processes, ability to deploy distributed ledger technologies platform in a rapid manner as well as their extensive investment consortium.
According to Sean O’ Sullivan, a managing partner with SOSV, the blockchain and its underlying technologies can be able to radically transform the manner in which people think about data ownership, trust, assets, work, and money. He went on to state that as has been the case with other technologies that have been touted as game-changers, there is a reason to be hopeful and wary.
dLab is being described as a deep tech that has the potential to create as well as nurture startups and potential founders. These are people who possess the ambition and talent required to create the crucial building blocks that will work as the foundation for this ecosystem, thereby paving the way for the development of amazing applications.
Sean believes that the ICO era hype is over and that it is time that focus was shifted towards the creation of startups that possess superior quality. These are startups that will have the proper management and governance required to help them achieve all the radical changes which can help transform the future.
The New Program
The New York-based program has been designed to be multi-disciplinary and to be protocol agnostic. As such, all startups that have trained their focus on any variation of distributed ledger systems are more than welcomed to apply. Benefits of this program include:
- All startups will be provided with eighteen weeks of intensive programming
- There will be seed capital to a tune of two hundred thousand dollars as well as in-kind support
- Participants will receive up to six hundred thousand dollars in free partner perks and services
- Additional technology, legal, marketing, and human resource services will be made available. This is to be provided through a network that will be filled with program partners and mentors.
It is expected that all startup companies, as well as their founders, will be able to benefit from mentorship opportunities available at SOSV as well as the extensive network that has been established by Emurgo. They will also get to take part in investor showcases and attend exclusive events.
Applications for the new program are already ongoing. The program is expected to start in January 2019.