IBM, Citi, and Ubisoft join the list of backers for Tribe Accelerator

Thu Sep 19, 2019 - 8:10am UTC
Tribe Accelerator 2

Tribe Accelerator 1

19/09/2019 – Tribe Accelerator announces on Wednesday that IBM, Citi, and Ubisoft are coming onboard as corporate partners. Joining the ranks of AXA, BMW Group Asia, Intel, Infocomm Media Development Authority (IMDA), Nielsen, PwC, and Temasek.

The three newly joined corporate partners will be working with the accelerator’s second batch of startups, composing of blockchain technology-fueled startups in different sectors such as media, advertising, fintech, healthcare and more.

The news comes following the successful completion of their inaugural batch of start-ups including design studio Mighty Jaxx and online car auction platform Quotz. The accelerator has taken its cohort to a global demo tour in Singapore, Shanghai, Seoul, and San Francisco, raising over US$12M across three months.

Singapore government-backed, Tribe Accelerator was founded in 2018 aiming to be a neutral platform that drives collaboration and growth for the blockchain ecosystem, connecting startups with glocal corporations, government agencies and established blockchain companies.

The managing partner at Tribe Accelerator, Ng Yi Ming expressed the firm’s pleasant surprise at the success of their inaugural batch and added: “By ensuring all parties are aligned with a common objective, it has greatly reduced information overlaps and made solution integration prompt.”

Media also quoted Carl Wegner, managing director and head of Asia of R3, one of the partners with the accelerator, saying: “Tribe Accelerator has displayed its ability to solve real business problems in complex and highly regulated markets, and has been able to identify tangible use-cases for blockchain.”

Tribe Accelerator is an initiative under the Tribe organization, together with OpenNodes and Tribe Code, to fill in the gaps in Singapore’s maturing blockchain ecosystem. Tribe Accelerator provides a platform for startups to grow, while OpenNodes connects government agencies, corporates, and blockchain firms through their web-based engagement platform, finally, Tribe Code works on providing blockchain programming education.

This news is published on Reuters.

Lo Jia Thong is a writer that writes about the latest announcements on venture capitals and startups from Southeast Asian countries.