Published in Vulcan Post, by Victoria Sek, 20 Sep
Tribe Accelerator, Singapore’s first blockchain accelerator backed by Enterprise Singapore, welcomes new partners onboard their business.
Joining their current fleet of government and corporate partners, including AXA, BMW Group Asia, Intel, IMDA, Nielsen, PwC, and Temasek, are IBM, Citibank, and Ubisoft.
The new partnerships were inked just after the successful completion of the inaugural batch of startups earlier in July 2019, according to a media release.
The addition of IBM, Citibank, and Ubisoft will grant participating startups more extensive access to international markets and resources beyond Singapore.
Promising growth-stage startups with market-ready blockchain solutions can tap into the three firms’ networks and either integrate their solutions into existing business units or tailored as end-user products.
Alan Lim, Asia Pacific Blockchain Leader, IBM, said, “Tribe Accelerator has displayed its capabilities on the international front with its list of industry partners.”
“Its speed at executing corporate-startup integration and partnership with established industry leaders gives us the confidence that this is only the beginning of their journey.”
“Tribe Accelerator’s capabilities and direction aligns with our long-term vision to bring business-blockchain to the forefront of market operations.”
Lin Hsiu-Yi, ASEAN and Singapore Head, Citi, said that as a leading global bank known for their digital innovation, they are happy to provide their expertise in financial services.
The bank is also happy to “actively partner Tribe in harnessing the power of blockchain technology which will unify and raise the standards for the betterment of the ecosystem”.
Launched last year as the only blockchain accelerator of its kind, Tribe Accelerator is now going into its second edition of its four-month programme.
The second cohort of startups will get access to their existing and new group of mentors, experts, international network of partners to help them scale globally.
Going beyond a typical accelerator programme, Tribe Accelerator has enhanced Singapore’s blockchain development and integrated Singapore’s GovTech OpenCerts with promising startups.
It has also gone on a global demo-tour across Singapore, Shanghai, Seoul, and San Francisco, resulting in the startups raising over S$16.8 million within a short span of three months.
Ng Yi Ming, Managing Partner, Tribe Accelerator, shared, “The success of Tribe Accelerator’s inaugural batch far surpassed our initial expectations.”
“By ensuring all parties are aligned with a common objective, it has greatly reduced information overlaps and made solution integration prompt.”
“We believe our nimbleness has given Tribe Accelerator the advantage and confidence from industry partners. The addition of IBM, Citibank and Ubisoft as our latest corporate partners re-affirms us that we are taking Singapore’s business-blockchain journey to new heights.”
With Tribe Accelerator’s extensive partner network, startups are able to connect directly with major corporates.
Mighty Jaxx is one such company that has gained “invaluable” access to the startup ecosystem and funding opportunities, thanks to Tribe Accelerator and Enterprise Singapore.
They were able to connect with strategic business partners and technological resources both locally and overseas, founder of Mighty Jaxx, Jackson Aw, said.
He added that the chance to be a part of the accelerator was a “game-changer” for the business.
“Our ‘graduation’ from this journey has empowered us to leverage emerging technologies like blockchain to continue growing Mighty Jaxx on a global scale and to better serve our community.”
Carl Wegner, Managing Director and Head of Asia at R3, stated, “Tribe Accelerator has shown incredible growth and results for its participating startups.”
“In this very short time, they have displayed their ability to solve real business problems in complex and highly-regulated markets.”
“Additionally, they have been able to identify tangible use-cases for blockchain. Tribe has proved its ability to make blockchain solutions that market-ready, and beneficial to everyday individuals.”
Building upon the momentum of the latest corporate partners, this second cohort likewise sees Tribe Accelerator identify companies who tap on blockchain for business solutions.
These companies come from various industries, including media and advertising, cybersecurity, and healthcare, on top of existing blockchain solutions in FinTech and supply-chain management.
Some of the new participants include, Torus, WhiteCoat, AID:Tech, and Affle Holdings.
Together with the slew of updates, Tribe Accelerator also announces the official rebrand of its organisation to Tribe.
Tribe will consist of three initiatives, OpenNodes, Tribe Accelerator, and Tribe Code.
This three-pronged approach reflects Tribe’s evolution to better tackle different gaps in Singapore’s maturing blockchain ecosystem.
Tribe’s new branding reflects the company’s approach towards bringing more comprehensive support in the industry.
Yi Ming assured that while the rebranding marks a new milestone for the company, every business decision they make begins with their stakeholders in mind.
“As we look to drive widespread adoption of blockchain technology across Asia, this rebrand enables us to take our capabilities out from the confines of the accelerator programme, and into distinct individual branches, serving an extended scope of work.”
For more information, visit Tribe’s website here.