Tribe Accelerator facilitates fundraising to boost blockchain innovations in Dubai

Tribe Accelerator (“Tribe”), Singapore’s government-supported blockchain accelerator has facilitated the fundraising of S$21.5 million (US$15.7 million) for its participating companies through its ecosystem of corporate and investor partners.

The fund itself was announced on the first Demo Day of the Tribe Global Demo Tour for its second batch of participating companies in Singapore today. Besides Singapore, the demo days are also being held in Dubai, Shanghai, and Abu Dhabi.

Tribe Accelerator’s Global Demo Tour is the final phase of the accelerator programme, whereby its portfolio companies are set to showcase their blockchain solutions to chosen innovators present.

“Every idea or solution shared during the Demo day has the potential to revolutionise the way the linked industry works in the present. We will continue to harbour companies that can change the face of the blockchain industry and benefit the end-user – making the technology more mainstream,” said Ng Yi Ming, Managing Partner of Tribe Accelerator.

“At SGInnovate, we are focussed on helping entrepreneurial scientists build Deep Tech startups that can make a positive impact globally. This partnership with Tribe allows us to get closer to the action and support some promising startups through investments and venture building efforts to commercialise their products on a larger scale,” said Hsien-Hui Tong, Head of Venture Investing, SGInnovate.

Tribe said that it is focusing on driving government partnerships with countries that are keen on leveraging futuristic technology for economic development across the globe. The main mission is to build a world-wide collaborative ecosystem.

“Going forward we will focus on enabling global government partnerships which is a must to fuel-up the current ecosystem. One of our goals is to drive the adoption of blockchain at a national level as countries like Singapore pursue their Smart Nation ambition. Mighty Jaxx, one of our participating companies from Batch I is already supporting OpenCerts, a government initiative in Singapore, that enables the issue and validation of tamper-resistant digital certificates,” Yi Ming closed.