IBM, Citibank, Ubisoft Lend Support to Singapore-Based Tribe Accelerator For Late-Stage Start-ups

IBM, Citibank, Ubisoft Lend Support to Singapore-Based Tribe Accelerator

Tribe Accelerator, serving as a reputed blockchain accelerator has announced its integration with tech-giant IBM, Citibank, and video game leader, Ubisoft for the second edition of its four-month program. On Wednesday, September 18, 2019, it was clarified that the three entities have come on board to serve as corporate partners on the Tribe Accelerator network.

Based on the information gathered from the report, Tribe Accelerator takes pride in being the first Singapore-government supported blockchain accelerator. It aids blockchain-centered start-ups by lubricating them during their nascent stages of development by integrating them with major corporations for the backing.

These new market-driven blockchain entities can either be mingled into the existing business units or be presented as end-user solutions for everyday customers to face practical problems of routine scenarios.

Tribe Accelerator in its announcement stated that the addition of IBM, Citibank, and Ubisoft in the second stage through the corporate partnership would allow the participating start-ups a golden opportunity to enjoy wide-scale access and penetration into the international markets along with the utilization of resources beyond the Singapore markets.

The start-ups in the second round are driven from the fields such a media, advertising, cybersecurity, healthcare, fintech, and supply chain management sector. Some popular names gearing up to become the participating start-ups in the second cohort are Binance-supported digital identity and password management platform Torus, distributed database network Bluzelle, healthcare venture WhiteCoat, digital identity, and password management platform AID:Tech, along with customer loyalty management platform Aqilliz.

The program for the first group of startups was organized in July 2019, and it was revealed that the firms raised more than $12.2 million within the time span of three months.

Tribe Accelerator has been successful in garnering support from the government as well as corporate gems. The prominent corporate partners include insurance leader AXA, BMW Group Asia, Intel, enterprise blockchain platform R3, Infocomm Media Development Authority of Singapore, Nielsen, Big Four auditor firm PwC and Temasek.

Tribe Accelerator’s managing partner Ng Yi Ming stated:

The success of the inaugural batch far surpassed our initial expectations. By ensuring all parties are aligned with a common objective, it has greatly reduced information overlaps and made solution integration prompt.

IBM with its excellence in technology and software field has always been at the forefront to give a boost to the cryptocurrency sphere. Some time back, IBM announced its highly anticipated solution- IBM Blockchain World Wire. It was designed to introduce a new payments network that would fasten remittances and rework cross-border payments with a view to foster cash movement in countries that require it the most.