IBM And Columbia University Partner To Promote Faster Development With Blockchain Startups
Partnership Between IBM And Columbia University Will Promote Faster Development With Blockchain Technology
IBM is a major technology conglomerate, and their team is always looking for another way to advance the industry. They recently decided to collaborate with Columbia University for advancement in blockchain technology, using technology accelerators of their own creation.
In an annoucement on Monday, the two accelerators were announced – the IBM Blockchain Accelerator and the Columbia Blockchain Launch Accelerator. Each one will be supporting 10 startups, based on the press release issued by the IBM News Room. The collaboration, dubbed the Columbia-IBM Center for Blockchain and Data Transparency, was originally created during the summertime as they progress in blockchain applications.
The managing director for IBM Blockchain Accelerator, David Post, thinks that collaborating with Columbia University will ultimately help early-stage companies to equip themselves with the social network and tech that their companies need for optimal growth.
In a statement, Post noted,
“The possibilities presented by blockchain technology are seemingly endless, and we are seeing strong dedication by technical talent to build game-changing applications.”
He continued, saying,
“What is also needed to truly bring about this sea change is the right technology and expertise which is why IBM is working with Columbia to help give these early- and mid-stage founders a way to build enterprise-grade networks that can move blockchain innovation forward.”
Companies that have made significant progress for their product development are the ideal candidates for the IBM Blockchain Accelerator. Their process takes about 8 weeks and will include in-person modules that are hosted in New York and San Francisco. To make sure the founders can still be involved, they will include virtual programming with the scaling of their business.
As the press release states, the candidates that qualify for the Columbia Blockchain Launch Accelerator are “pre-seed, idea-stage companies with a Columbia or other recognized New York City-based University affiliation.” They will have the same time as the IBM Blockchain Accelerator, but their focus will be training them in the creation of a blockchain startup. They will also remain in New York City, and will not venture to San Francisco.
Satish Rao, the executive director for the Columbia Blockchain Launch Accelerator commented,
“Columbia University has successfully launched several technology accelerators in New York City, but this our first in partnership with a corporation that is a clear industry leader in the field. Early- and late-stage teams will undoubtedly benefit from IBM’s technology resources, expertise and established network coupled with Columbia’s ground-breaking research and talent in blockchain and data transparency, all while benefiting from rapidly growing NYC blockchain communities.”
There is no fee charged to the participants involved in these accelerator endeavors by either side. Though the nominations are open for IBM’s side, the Columbia side will not be open to nominations until January 2019. The support available to the participants will be equivalent to about $400,000 in technology and services.