South East Asia has got its first Blockchain incubator and it’s started by the team behind GBMiners.com (South East Asia’s largest bitcoin mining pool), and backed/invested by Amit Bharadwaj. The incubator is very aptly named Satoshi Studios and is inviting applications from entrepreneurs working in the South East Asia region. The incubator has a 3-month intensive residence program in New Delhi, India, where the founders will spend time with the GBMiners team and other Blockchain startups and receive 50K USD in funding for 8%-15% equity in the company.
“Our vision is to build New Delhi (India) as the Blockchain Knowledge Hub of Southeast Asia,” said Bhardwaj.
“South East Asia and bitcoin adoption will be a very symbiotic relationship. The region is the world’s largest inward remittance market and also has the world’s largest unbanked population. There is so much potential in bitcoin’s adoption in the region, and the times could not be better for bitcoin adoption especially with the region’s largest economy’s biggest currency notes being demonetized recently.”
The Indian economy is undergoing interesting times, where the Prime Minister Modi recently demonetised 500 and 1000 rupee currency notes, which formed majority of the paper currency in circulation in the country and the aggressive Prime Minister is rigorously pushing for a cashless economy.
The incubator’s co-founder, Sahil Baghla said:
“We had been receiving a lot of interest from fellow entrepreneurs seeking feedback on their idea on the Blockchain and some of the entrepreneurs we’ve met are building some really interesting applications on Blockchain, and we wanted to work with them and see if we could get an opportunity to know and work with more of these geniuses.”
On being questioned about why focus on the South Asian region and not any other, Bharadwaj said:
“These economies have shared areas of impact from the Blockchain technology and applications needed to solve their problems will be more or less similar.” He also added, “GBMiners’s access to Blockchain-friendly investors will provide the necessary connections for the entrepreneurs to be able to raise capital from the right people in the region and also save them from reinventing the wheel.”
Speaking about the other perks that the incubator will the offering to the selected startups, Baghla said:
“Startups will get an awesome workspace and living space for 3 months in New Delhi. There will be intensive mentorship sessions by Blockchain experts, which will help startups to reach the product market fit quickly.”
The team behind GBMiners has been growing aggressively, the recently launched pool grew to become the 2nd largest pool outside China, and gather a pool of 65 Petahashes, in a span of less than 3 months of launch.
Interested entrepreneurs can apply for the Batch 1 at: http://satoshistudios.io/
- Token Taxonomy Workshop – - January 24, 2020
- Deloitte Bullish on Libra Project in New Report - January 22, 2020
- Busted: SEC Charges Blockchain Marketplace Founder Sergii “Sergey” Grybniak for Fraudulent ICO 2017 - January 22, 2020
- DC Blockchain Advocacy Group US Chamber of Digital Commerce Supports Telegram Vs. SEC Case - January 22, 2020
- BIS Forms New Central Bank Think Tank to Assess National Cryptocurrencies - January 22, 2020
- Bank of England Pondering National Cryptocurrency - January 22, 2020
- Infamous Online Gaming Community Clanbase to Relaunch With Blockchain Technology in 2021 - January 21, 2020
- Chainalysis: 2019 Saw More Cryptocurrency Hacks – Total Amount Stolen From Exchanges Dropped To $283 Million - January 21, 2020
- J. Christopher Giancarlo, former Chairman of the US Commodity Futures Trading Commission - January 21, 2020
- Ethereum Classic Labs Donates $1 Million to UNICEF Innovation Ventures - January 20, 2020
- Busted: SEC and U.S. Attorney’s Office for the District of New Jersey Files Lawsuits Against Fraudulent ICO that raised $30 million - January 17, 2020
- Kenya Issues Second ICO Warning After Investors Lose €24+ Million Euro - January 17, 2020
- Neufund Wraps Tokenised Equity Crowdfunding Series B with Greyp Bikes raising €1.4m EUR - January 17, 2020
- U.S. Lawmakers Pondering “Crypto-Currency Act of 2020” - January 17, 2020
- New Blockchain-based Visa Token Service Set To Launch in 2020 – Set to Reach $1 Trillion - January 17, 2020
- Germany’s New Shore Invest Launches STO Ship Financing Platform – Tokenised Fractional Ownership - January 16, 2020
- Open Source Luminary Marc Fleury Enters Crypto Arena with Announcement of New Crypto Asset Class and Continuous Token Offering Sale - January 16, 2020
- UN Warns Public Not To Attend North Korea Blockchain and Cryptocurrency Conference 2020 - January 16, 2020
- Fiat-to-Crypto Gateway Solution, Banxa, Raises $2 Million USD Series A Round Led By NGC Ventures - January 15, 2020
- United Africa Blockchain Association Plans to Fire Up Blockchain Adoption - January 14, 2020