Columbia University and IBM have partnered to launch two accelerator programs that will aid the development of blockchain and blockchain-related companies. The programs will act as incubators that will equip startups with the essential knowledge and expertise in the field of blockchain.
The accelerator programs will support 10 startup companies, whose founders will benefit from blockchain education and hands-on tools for developing their projects. In addition, founders will get to explore some of the best practices when developing a blockchain project from leading experts in the industry. These experts will also serve as mentors for the startups and will come from variety of fields from both IBM and Columbia University.
Both Columbia and IBM are contributing in different ways for realization of the programs. Columbia will bring assets such as student and research communities, while IBM will provide the presence and engagement of industry and business specialists.
The Managing Director of the IBM Blockchain Accelerator, Mr. David Post, commented on the joint venture:
“What is also needed to bring about this sea of change truly 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.”
Even more interesting are the perks that the two accelerator programs offer to startups. Combined, the technology and knowledge provided for each startup in the program is worth around $400,000. Both IBM and Columbia will not take any equity stake or fee from the startups they educate and mentor. The nominations are now open and applications will commence sometime in January 2019.
The IBM Blockchain Accelerator will focus on startups in their growth stage, rather than the pre-seed and ideation stage companies, which will be taken as a focus by Columbia University.