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Singapore blockchain accelerator picks startups to learn from BMW, Intel


Today South East Asian venture capital firm TRIVE Ventures announced the first ten start-ups to benefit from its Tribe Accelerator. Last week Tribe announced BMW, Intel and Nielsen as partners who will share knowledge with startups. SgCarMart, Chorus, Mobility and TEMCO make up some of the companies chosen for the first Singapore government-backed blockchain development program.

Each will be integrated into the firms “dynamic network of global partners from both the corporate and blockchain ecosystem”, according to Tribe Managing Partner Yi Ming Ng.

Tribe, corporate partners and investors selected the startups. Each had to fit at least one of the focus areas for the program: fintech & insurtech, mobility & supply chain, data & telecommunication, energy & sustainability.

Tribe’s startup roster

SgCarMart is Singapore’s largest new and used car online platform, catering to over 2.6 million monthly users and over 5,000 merchants in their after-market service. The startup has won several awards including Hitwise’s Most Popular Automotive Site, 2011 Successful Entrepreneur and Singapore’s prestige brand award 2010. Blockchain will help to improve transparency and accountability in the marketplace.

Chorus mobility, a blockchain-centric service, allows for peer-to-peer protocols and decentralized applications for autonomous of connected vehicles. It is pioneering machine-to-machine micropayments for self-driving cars. Chorus mobility’s work on the soft and hardware architectural components for autonomous vehicles, is highly regarded. The startup gained recognition by winning the Mobility Open Blockchain Initiative (MOBI) challenge. The MOBI consortium for mobility standards comprises founding members BMW, General Motors and Ford.

TEMCO is a supply chain management platform that provides business and data insights. It aims to help supply chains to clamp down on unauthentic merchandise in the second-hand marketplace. Items can also be paid for online with cryptocurrency within the platform. TEMCO will provide infrastructure to help SMEs to deliver real-time data (ownership, order confirmations, activity, etc.) in a usable way.

Other beneficiaries of Tribe’s product development focused program include:

  • Accrue – The New York fintech develops tools for global event analytics and code-free algorithm development.
  • Digix digitizes traditional asset classes including gold.
  • Halo is building an alternative to existing cloud storage platforms.
  • Limestone Network is working on a Smart City development in Cambodia.
  • MightyJaxx is a collectibles and art studio, run by a Forbes 30-Under-30 Asia founder.
  • TADA is Singapore’s first blockchain based ride-hailing platform with 200,000 users and 27,000 drivers in under six months.
  • WhatsHalal is a Halal foods traceability ecosystem.

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