Iota Foundation To Start Financing Blockchain Startups
The Iota Foundation, which has introduced the Iota crypto (MIOTA), revealed that it has signed a cooperation agreement with the incubator Nova to help develop blockchain startups, Cointelegraph reported, referring to the company's press release.
The principal goal of the partners will be to finance startups working on the Iota platform. The assistance will be provided within the Iota Cofoundery program, published on the Nova website, aiming to provide financial support to promising startups at an early stage of their development.
With the help of the program, some young companies can take part in the Nova guiding program. Within its framework, two dozen experts provide consulting support in the field of blockchain technologies.
Nova has co-founded more than 80 startups, with over half of them working for at least three years. It should be noted that only 10% of blockchain startups reach a three-year term of work, according to statistics.
Assistance in the development of blockchain startups is provided by many companies in the crypto sphere, and it happens in different forms. In November 2018, Tron announced the creation of the Tron Arcade fund, aimed at games based on distributed ledger. In December, Binance Labs released the first series of blockchain projects as part of its incubation program.
As previously reported, the Iota crypto platform will assist the Danish state-owned company Energinet in the development of the country's electric power systems.