Blockchain Growth Lab Launched By Startup Accelerator MStatebr>
Startup accelerator MState has created a blockchain growth lab focused on scaling early stage startups that sell to the enterprise.
Led by venture capitalist Rob Bailey, MState will focus on investing in blockchain firms globally and help them scale successfully with Fortune 500 customers. The company plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months. The accelerator will help startups with all aspects of their go-to-market strategy, including product development, team building, sales, marketing, finance, business development and customer support.
It has teamed with tech giant IBM and the venture arm of telecoms conglomerate Comcast. Under the partnership, Comcast Ventures will provide funding, while IBM will offer support services to MState startups.
The accelerator has already invested in its first startup, Blockdaemon, which helps companies roll out blockchain applications faster by letting them deploy and manage network nodes. In addition, MState has built a network of 30 advisors which include five founders who have successfully built billion-dollar tech companies.
MState co-founder and CEO Rob Bailey said that the company may also accelerate other technologies, such as artificial intelligence and quantum computing.
“The first wave of killer apps built on blockchain are already growing explosively,” said Bailey. “Cryptocurrencies built on blockchain, like bitcoin (BTC), Bitcoin Cash (BCH), ethereum (ETH) and Litecoin (LTC) have collectively surged past $500B in market valuation. In 2018, we will see a growing number of enterprise blockchain use cases go mainstream, from healthcare applications to government, supply chain and retail, to the real estate and transportation industries. But for most of these use cases to succeed, blockchain startups need to be able to engage well with enterprise customers. Our growth lab is going to help make that happen.”