Tribe Accelerator, Singapore’s first blockchain accelerator backed by Enterprise Singapore, announces its second cohort of start-ups in its four-month program. Fresh off its overwhelmingly successful first iteration, the second batch of participating startups will get access to their existing and new group of mentors, technical experts, and an international network of partners to help growth-stage startups scale internationally.
More than a typical accelerator program, Tribe Accelerator has taken Singapore’s blockchain development to new heights, integrating Singapore’s GovTech OpenCerts with promising startups, as well as to go on a global demo-tour across Singapore, Shanghai, Seoul, and San Francisco -- resulting in the start-ups raising over SGD$16.8 million within a short span of 3 months.
“The success of Tribe Accelerator’s inaugural batch far surpassed our initial expectations. In such a limited period, we’ve witnessed immense proactiveness by all parties involved. By ensuring all parties are aligned with a common objective, it has greatly reduced information overlaps and made solution integration prompt,” said Ng Yi Ming, Managing Partner, Tribe Accelerator. “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.”
Expanding blockchain ecosystem efforts
Despite having launched only last year as the only blockchain accelerator of its kind, Tribe Accelerator has already garnered the support of multiple government and corporate partners, including AXA, BMW Group Asia, Intel, IMDA, Nielsen, PwC, and Temasek. This already stellar list of enterprise partners will be complemented by IBM, Citibank, and Ubisoft, as they come on board after the successful completion of the inaugural batch of start-ups earlier in July 2019.
“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 directly aligns with our long-term vision to bring business-blockchain to the forefront of market operations,” said Alan Lim, Asia Pacific Blockchain Leader, IBM.
The addition of IBM, Citibank, and Ubisoft into Tribe Accelerator’s corporate partnership-base will grant participating startups more extensive access to international markets and resources beyond Singapore. IBM, Citibank and Ubisoft’s addition builds upon Tribe’s corporate partnership strategy connecting corporates directly to promising growth-stage startups with market-ready blockchain solutions, who can either be integrated into existing business units or tailored as end-user products for everyday consumers.
“As a leading global bank that is well-known for our digital innovation, we are always on the lookout to work with like-minded organizations to introduce transformative initiatives and solutions so as to achieve further growth and progress for our industries,” said Lin Hsiu-Yi, ASEAN and Singapore Head, Citi. “We are, as such, delighted to provide our expertise in financial services, and to actively partner Tribe in harnessing the power of blockchain technology which will unify and raise the standards for the betterment of the ecosystem.”
Corporate network to take Tribe Accelerator to the next level
At the heart of Tribe Accelerator’s ability to bring blockchain solutions to market lies its extensive partner network, enabling promising startups to connect directly with major corporates.
“The opportunity to be a part of Tribe Accelerator was a game-changer for Mighty Jaxx. Tribe Accelerator and Enterprise Singapore gave us invaluable access to the startup ecosystem and support to funding opportunities, strategic business partners and technological resources both locally, and overseas,” said Jackson Aw, Founder, Mighty Jaxx. "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."
“Tribe Accelerator has shown incredible growth and results for its participating start-ups,” said Carl Wegner, Managing Director and Head of Asia at R3. “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.”
New participants paving the way for industries
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.
The start-ups range from industries including (further details are appended below):
- Cybersecurity: Torus - Digital identity and password management
- Data: Bluzelle - Database services infrastructure and data privacy; Pilab - backend service connecting different industry blockchain platforms together
- FinTech: AID:Tech - Introducing transparency and traceability to delivery of aid, social welfare and money across international borders
- Healthcare: WhiteCoat - defining digital healthcare through accessible and secure end-to-end on-demand telehealth services
- Media & Advertising: Affle Holdings - Rewarding consumers and media influencers engaged in targeted content and restoring trust in publisher-subscriber business models
- Retail: Aqilliz - Reimagining loyalty programs with increased liquidity and quicker settlement processes
- Supply Chain: DiMuto - Enabling transparency and accountability for global trade and supply chains; Eximchain - Empowering enterprises with customizable decentralized applications specific to supply chains
Adapting to recent momentum and growth
In line with its mission of helping innovative and disruptive blockchain start-ups capture growth opportunities locally and overseas, Tribe Accelerator also announces the official rebrand of its organization 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
As Singapore’s start-up and blockchain ecosystem continue to evolve, Tribe’s new branding reflects the company’s approach towards bringing more comprehensive support in the industry. “While this rebranding marks a new milestone within our organization, every business decision we make starts with our stakeholders in mind,” continued Ng. “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 program, and into distinct individual branches, serving an extended scope of work.”