American startup seed accelerator Techstars and blockchain advisory firm Alchemist, have released the names of the startups that will make up the inaugural class of their Alchemist Blockchain Techstars Accelerator Program.
Holding in New York for 13 weeks, the Alchemist Blockchain Techstars Accelerator Program serves as an outlet through which Alchemist will be looking to develop the next generation of blockchain entrepreneurs.
The firm is aiming to harness the program, which is organized by Techstars, to provide support for ten startups which are posed to cause progressive disruptions in the blockchain industry.
Through the program, Alchemist and Techstars are looking to effectively address the major challenges faced by blockchain founders in developing and scaling their ventures, which includes complex regulatory environments, rapidly changing technology landscapes and others.
The Accelerator will also be providing mentorship opportunities and access to some of the top names in the blockchain industry.
Applications for the accelerator program were opened in July 2018, and the members of this class were selected after several comprehensive in-person interview rounds and pitching processes.
The startups were chosen based on the strength of their founding team members, an understanding of the problems they’re looking to address, and the availability of a large enough market to help them scale.
Speaking on the program, Yossi Hasson, Managing Director of the Alchemist Blockchain Techstars Accelerator, said, “Successfully building a ‘traditional’ startup is hard enough, and blockchain startup founders face all the complexities of traditional startups and then some, as these new models are being pioneered.”
“We’ve launched this blockchain-specific program in partnership with Alchemist to support blockchain entrepreneurs in their journey through this emerging industry, and engage a unique network of worldwide mentors with blockchain experience and expertise,” Hasson added.