This is a success for the local blockchain scene, because 170 blockchain startups from around the world had set their sights on making it into the accelerator. And even though most of those selected are domestic, Czechia ranked only fourth in the number of applications submitted. More applicants signed up from the USA, the United Kingdom and Nigeria.
"We are not specifically looking for Czech companies. Their success, however, demonstrates the maturity of the domestic environment. Czechia has historically been a breeding ground for crypto-focused startups. At least in Europe, Czech developers were among the first to dive into blockchain-based technologies. And now, some fourteen years later, we are seeing clear benefits," stated StartupYard CEO Cedric Maloux.
Fintech, real estate and energy
It often starts with a great idea and a product, but many projects hit a wall when it comes to reaching a wider circle of customers and raising money for further development. The Tatum Blockchain Accelerator will try to help these five selected startups turn their written code into a real business:
InvestBay (CZ)
The company operates at the intersection of fintech and real estate. It divides assets into smaller, attainable tokens, thereby transforming real estate into an investment opportunity available to everyone, including a possible share of the collected rent. It also connects the tokenized asset to a credit card that is secured by the value of the share in the property.
Dexfin (CZ)
It is developing a mobile crypto wallet for end users and making access to stored cryptocurrencies easier. It replaces a text password with biometric login to access the wallet. It is a mobile app for both iOS and Android, and it can hold various cryptocurrencies.
CO2IN (CZ)
The company tokenizes carbon credits and emission allowances. Anyone who downloads the mobile app can easily buy allowances. There is also a secondary market where allowances can be sold.
Fungies.io (Poland)
The company has launched a no-code platform for independent game studios, which can secure additional income by selling virtual assets in their games. Thanks to Fungies.io, studios can launch their own store and a secondary market for these add-ons directly within their game and avoid paying commissions to large platforms such as Steam.
Insaaph Capital (United Kingdom, South Africa)
Small investors in Africa have poor access to investment opportunities or savings products; the market there is very limited. This is one of the reasons why many Africans invest in cryptocurrencies. Insaaph Capital targets the African market and is building a platform that will bring capital to Africa. "In essence, it is crowdfunding that will help various types of projects in Africa secure financing. It focuses on technology, alternatives and Sub-Saharan Africa. On the other side are a number of small investors from around the world who have no access to this market. Insaaph Capital connects these two groups through tokenization," says Maloux.
Others have a chance too
Startups can continue to apply to the accelerator. The program does not have a clearly defined end, and work on the projects is individual. The condition is that the product or app be built on blockchain technology. It does not necessarily have to be Tatum's. Maloux expects ten to fifteen startups to get into the accelerator, with the final number depending on the quality of the applicants.
"We expect around five hundred applications to come in over the course of this year. This volume is proof that the crypto space is alive and well around the clock. Even though just a few weeks ago there were articles claiming that crypto is dead. A large number of founders are trying to apply the advantages of blockchain to their existing business or to transform industries such as the development of new apps and programs, finance and e-commerce," says Nikola Rafaj of StartupYard.
It was he who, together with Maloux and representatives of the Tatum platform, Purple Ventures and the investment company DEPO Ventures, took part in selecting the startups. The acceleration program, which runs remotely, is meant to prepare the companies mainly on the business side, so that they can find as many customers as possible for their newly launched product. And also attract the interest of investors.
According to Maloux, developers find their way around technology and know how to program what they need. From his own experience, however, he knows that they may struggle, for example, with how to run a company, how to bring their product to market or how to sell it. "We are a business accelerator. We will work with the startups on their marketing and sales strategy. At the same time, we will help them put together a financial projection, a pitch deck, and we will also connect them with investors. We want them to be ready when they stand before investors, when they negotiate with them," Maloux concluded.
Source: SJ news
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