Singapore’s Tribe Accelerator, a Government-Backed Program, Partners with 10 Blockchain Companies
Singapore continues to be a global leader in blockchain development. Reports from the government-sponsored blockchain accelerator, Tribe Accelerator, confirm the selection of ten blockchain based projects for its Tribe Accelerator product development program. The blockchain accelerator will work together with the management and development teams from the ten projects providing resources, education and mentorship during the period.
Tribe Accelerator is a TRIVE Ventures, a South East Asia venture capital firm, subsidiary.
The management team at Tribe, external and internal investors and a team of curated corporate members selected the team of 10 who will work under the accelerator. The team comprises of five local startups (from Singapore) and other blockchain projects across the world. The selection looked for innovative and solution-based projects in the Fintech & Insurtech, Mobility & Supply chain, Energy & Sustainability and Data & Communication industries.
Speaking on the release of the competition winners, the managing partner at Tribe Accelerator, Yi Ming Ng, showed enthusiasm on the future of their accelerator program. He looks forward to working with the startups and helping them set up strong partnerships with its corporate and other global partners. He said,
“We hope to give them [companies] the resources they need to excel, and we are excited to see what the startups will be able to accomplish when integrated into our dynamic network of global partners from both the corporate and blockchain ecosystem.”
The ten companies currently in the program gained selection over the hundreds of startups registered in the program. Startups in the Tribe Accelerator program will gain validation as the Singapore government will be actively involved in their development.
Here are some of the top projects selected projects by Tribe Accelerator.
- TADA: The first ever blockchain based ride-hailing app, TADA, is founded in Singapore and present in Vietnam and Cambodia. TADA has seen a huge growth in adoption since its launch with over 27,000 drivers and 200,000 riders since the start of October.
- Chorus Mobility: One of the stars of the competition, Chorus Mobility, is a blockchain project that aims at providing decentralized payment systems and decentralized applications on autonomous and connected vehicles. The company won the Mobility Open Blockchain Initiative by a consortium founded by Ford, General Motors and BMW.
- Accrue: This is a blockchain firm that develops tools for global events analytics on a decentralized platform.
- Digix: The company is popular for its Digix DAO token. The company specializes in digitizing traditional assets such as gold, stocks and other assets. It is one of the more popular companies on the list.
- TEMCO: TEMCO is a blockchain based supply chain solutions provider that aims to track the authenticity of high value goods and improve efficiency in the supply chain management of secondhand markets.
- WhatsHalal: Tracking foods from the farm to the table is the goal of WhatsHalal, a concept that interested the Tribe Accelerator panel. Users can follow the track of every food product through a decentralized and transparent network.
The companies will complete a four-month program with the accelerator where Tribe will enhance the projects reach in the ecosystem and support scaling, adaptation and implementation of the project.
The COO of Digix, Shaun Djie was excited at the project by the government-backed project terming the program as “forward-thinking and regionally significant initiative”.