BCB Blockchain, a Singapore-based technology firm, has committed $300,000 to support incubators and startup accelerators in the Philippines under the Department of Science and Technology (DOST), according to an announcement.
The announcement was made during the 3rd National Technology Business Incubator Summit (TBI Summit). During the said summit, BCB Blockchain signed a memorandum of agreement with the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEETRD) – DOST.
The MOA signifies BCB Blockchain’s dedication to collaborate with the government of the Philippines in powering up the development of local startups using its fund as well as its blockchain technology protocol to create smart city projects and applications.
“We hope that this partnership will ignite the next wave of applications and innovations for the development of sustainable and smart cities,” said Dr. Enrico C. Paringit, Executive Director, PCIEERD – DOST.
BCB Blockchain has also signed partnerships with a number of universities and startup tech incubators across Luzon, Visayas, and Mindanao to reinforce its commitment to work closely with its academic partners in critical areas such as, co-incubation of projects, research and development, seminars and trainings, promotional activities, competitions, hackathons, and collaborative endeavors for smart city or blockchain development.
The project collaboration includes joint promotional activities, development of tech communities, mentorship, funding of projects and access to global markets across variety of sectors upon successful commercialisation of the projects.
The partners include Far Eastern University, De La Salle University Manila, Technological Institute of the Philippines, Adamson University, Holy Angel University, Batangas State University, Technological University of the Philippines – Visayas, University of Southeastern Philippines, Caraga State University, Mindanao State University – Iligan Institute of Technology, Siliman University, and QBO Innovation hub.
These joint efforts aim to reach out and engage researchers, startups and community members to use the Building Cities Beyond (BCB) Blockchain platform and its technologies to create smart city solutions.
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“By providing DOST, universities and TBIs the resources and technical knowledge that BCB Blockchain has, we expect them to deepen their competencies in the area of designing and developing applications and projects for smart cities. We will guide and provide them the access to hands-on workshops, funding, materials, events and technical support,” said Douglas Gan, Chief Executive Officer, BCB Blockchain.
Competitions, Hackathons and Bug Bounty programs will be launched in 2020 in multi-city as part of the BCB education initiative. There will be prize money of up to US$15,000 for winners participating in these events.
Selected projects are given opportunities to participate in the incubation programs for commercialisation and fundraising. – © BusinessNewsAsia.com