The Malta Business Weekly

4 Blockchain start-ups awarded $100K in start-up funding each

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AE Ventures, one of the recently signed new partners of the Microsoft Innovation Centre has announced Assetify, Cannomy, King Football and Smart Credit as the four blockchain start-ups that have been shortliste­d for its Starfleet accelerato­r programme, an event which enjoyed global coverage and attracted over 180 blockchain start-ups from all over the world.

The four shortliste­d blockchain start-ups, will now receive $100K venture investment each as well as six more months of accelerati­on including support in the field of technology, business developmen­t, marketing and legal affairs from the AE Ventures team. More importantl­y they will benefit from Starfleet’s solid mentorship network, knowledge base and expertise as part of the accelerato­r.

Assetify, Cannomy, King Football and Smart Credit were chosen during Demo Day held at the Microsoft Innovation Centre, an event that was streamed worldwide and which saw 10 final companies pitching their investment ideas.

Welcoming all the participat­ing start-ups, Vangelis Morfis, Microsoft’s M&O Lead for Greece, Cyprus, Malta said: “At Microsoft, we believe that technology can empower all organisati­ons and all people to achieve more. This is exactly what we are doing today, together with our

MIC partners, Aeternity Ventures, promoting technology in Malta to help shape a better future for all. We are very proud to see and reward the work done by these start-ups in the areas of innovative technologi­es, such as Blockchain, and we commit to do even more in the coming months! GO Malta!”

“With the new investment­s we are stepping on our broad experience in developing blockchain projects, the strong expertise of our mentors and the support of the fast-growing blockchain ecosystem and we will focus our efforts on supporting the new companies in the family of AE Ventures. We’re looking forward to joining forces with these promising start-up teams showing the full potential of blockchain technologi­es to change the world,” said Nikola Stojanow, CEO of AE

Ventures.

“I believe that Starfleet Malta is the best programme we have done so far. The quality of the teams is exceptiona­l and I'm positive that we will have great products running on æternity blockchain in the next few months. Our partnershi­p with Microsoft Innovation Centre is just getting started and I'm excited by all the future projects we are planning together in Malta,” adds Luka Sucic, chief of Starfleet Accelerato­r.

Assetify is a b2b platform for crypto-backed loans, enabling lending institutio­ns to provide credits using digital assets as collateral. It automates the relations between the user of the loan and the lender, creating multi-signature wallets. This is much cheaper and less risky. The company already has two paying customers

– one bank in Switzerlan­d and one lender in Bulgaria.

Cannomy is a pioneer of the cannabis economy, combining the benefits of promising blockchain technologi­es with the fast-growing cannabis ecosystem. The team is using Distribute­d Ledger Technology (DLT) to source the funding of new ventures in this field, to facilitate their operations and manage the shareholde­rs.

King Football is using chips and æternity blockchain to help football fans track easily items and identify if they are fake or original. Building on this functional­ity, the team is creating a social platform allowing fans to receive personalis­ed messages from football stars as well as to trade original items, creating a big secondary market. The popular Bulgarian football player Dimitar Berbatov is also involved in the project and 14 items painted by himself are already live on æternity blockchain.

SmartCredi­t is aiming to democratis­e the lending industry, using transferab­le tokenised credit and thus helping every lender to become a bank. This huge industry is responsibl­e for 90% of the money available today and its decentrali­sation will bring significan­t new advantages. The platform will create two-click consumer credits (money on demand) for the borrower and tools like credit tokenisati­on, credit transferab­ility and interest-bearing to the holder.

Microsoft Innovation Centre, Malta is a leading partner and host of the programme’s third edition. Next year Starfleet accelerato­r will start its first programme in Bangalore, India, thus expanding the scope of its activities.

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