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Tokocrypto, BRI Ventures launch accelerator for blockchain start-ups
The program is aimed at training start-ups in fundraising, blockchain development, tokenomics and more.
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Tokocrypto CEO Pang Xue Kai (right) and BRI Ventures (left) sign a memorandum of understanding (MoU) on the launch of the Tokocrypto Sembrani Blockchain Accelerator (TSBA) program in Seminyak, Bali, on Jan. 20. (JP//Eisya Eloksari)
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ryptocurrency exchange platform Tokocrypto and BRI Ventures announced on Thursday the launch of a start-up accelerator program for blockchain-based start-ups, the first of its kind in Indonesia.
The Tokocrypto Sembrani Blockchain Accelerator (TSBA) is aimed at training up to 10 start-ups in fundraising strategy, blockchain development, listing, tokenomics and more.
“We believe that, in the next five to 10 years, blockchain will become mainstream,” said BRI Ventures investment vice president Markus Rahardja during a press conference on Thursday.
“We see a lot of interesting projects that use blockchain technology, but they still face fundraising challenges. So, this is the part that we will be focusing on in the program.”
He went on to say that the program would be seeking start-ups using blockchain technology such as nonfungible tokens (NFT) and play-to-earn (gamefi) projects. To be eligible, start-ups need to have a working product, have received previous funding or booked revenue.
Read also: Crypto exchanges seek new horizons in NFTs, lending
BRI Ventures, the venture capital arm of state-owned Bank Rakyat Indonesia (BRI), is known for its focus on fintech start-ups, but it has been expanding its portfolio to non-fintech start-ups through its Sembrani Fund.
