Fintech startup accelerator F10 will partner with Klaytn Foundation to launch an Incubation Program in Singapore.
The program will support early-stage startups built on Klaytn, a blockchain platform developed by internet giant Kakao Corp, F10 said in a statement on Thursday.
The 3-month program kicks off in April 2022 and will enable entrepreneurs to develop ideas or minimal viable products (MVPs) into scalable businesses.
According to the statement, selected startups for this Incubation Program will participate in workshops, receive extensive mentoring, obtain access to an investor network, program perks, working space in Klaytn’s office, as well as technical development support.
Klaytn Foundation is also providing a grant in the form of the native Klay token.
This partnership leverages the strengths of both parties.
Selected startups in the Inbucation Program will be given the chance to upscale and grow through F10’s curriculum, which comprises topics such as problem/solution fit, tokenomics, growth hacking, community and governance.
Entrepreneurs can also leverage Klaytn Foundation’s expertise in blockchain infrastructure and existing ecosystem projects in GameFi, decentralized finance (DeFi), as well as other innovative non-fungible token (NFT) use cases.
“We look forward to expanding the Klaytn ecosystem with exceptional projects emerging from this Incubation Program. Working with F10 also cements our role as enablers in the Singapore startup community. We’re here to stay as the trend shifts towards Web 3.0,” said David Shin, Head of Klaytn Global Adoption.
Klaytn is a public blockchain focused on the metaverse, gamefi, and the creator economy. Officially launched in June 2019, it is the dominant blockchain platform in South Korea and is now undergoing global business expansion from its international base in Singapore.
These business expansion activities are supported by the $500 million Klaytn Growth Fund, which aims to grow the ecosystem of companies built on Klaytn. The fund is managed and disbursed by Klaytn Foundation, a Singapore-based non-profit organization established in August 2021.
“The creation of this new incubator emerged from a shared vision that blockchain technology is ripe for mass adoption. In the recent 1.5 years, we have seen an explosion in Web 3.0 applications and new use cases in DeFi, metaverse and gaming.
“We are convinced that our collaboration with Klaytn for this incubation program will repeat the success that we have achieved with our existing and proven programs,” said Jonas Thürig, Head of F10 Singapore.
F10 is a global innovation ecosystem with offices in Zurich, Singapore, Madrid, and Barcelona. F10 supports and guides startups in transforming their ideas into successful companies while stimulating collaboration with international organizations.
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