StateZero Labs to Open PLUG Blockchain Framework with €50K Prize Funding for Startups
London-based blockchain accelerator for startups, StateZero labs, is set to welcome its first batch of startups as from January 2019. The initial opening will see StateZero choose six startups as the first cohort to benefit from their dedicated blockchain lab.
The startups lucky enough to be selected will get adequate technical help to build solid foundations for their businesses with assistance from StateZero labs. Additionally, the first cohort could each receive a startup funding of up to €50,000 to develop and learn how to use PLUG technology, StateZero Labs' dedicated innovation.
The PLUG technology is a next generation framework developed for building ready-made blockchain-based applications for organizations of all sizes. StateZero Labs' intends to incorporate the PLUG framework to give the startups a platform that fixes the security and scaling issues. With PLUG blockchain, the startups could establish trustless interactions, easy integration, flexibility, control, and real security.
What's The Catch?
There is no catch, and the investment would not require developers to give anything in return. Tazz Gault, Co-founder of StateZero Labs, emphasizes their commitment to the free grant investment by saying:
“We are committed to changing the face of early-stage investing by putting the startup founders first. We are giving away €50,000 with no strings attached, so founders can focus on building world-beating solutions for the future.”
However, the program will see startups received the funding in the form of a free grant, a cost-free office space, or a mentoring and personalized technical support from developers on using the PLUG blockchain technology. Firms looking to win the funding would also need to utilize the blockchain technology to tackle real-world problems rather than dwell on cryptocurrency.
Gault says: “We are not looking at ideas revolving around cryptocurrencies, but for the people with ideas to tackle real world problems. Whether it’s creating transparency in the supply chain to ensure medicines or luxury goods are genuine or combat the devasting impact of fast fashion by ensuring the provenance of ethically sourced materials, we would want to hear from you.”
Apart from providing a unique and quality blockchain application, startups will also need to have at least two members, a substantial market opportunity and exclusive the use of cryptocurrencies. And they do also have to agree to use the PLUG technology as its StateZero Labs' proven framework for ready blockchain systems.
How To Get In
Startups looking to win the funding would need to submit their applications to the StateZero Labs' website before 23rd November. The selection process is scheduled to take place on 12-13th of December, with the results expected on 17th December. Successful startup applicants will undergo a three-month program ons blockchain foundation.
About StateZero Labs'
StateZero Labs' prides itself as a not a generic startup accelerator but instead a platform or ecosystem that gives blockchain innovations a fair chance at success. The London-based startup factory seeks to find, fund, and further startup potential while also solving the challenging problems through practical use cases of advanced technology.