Ernst & Young seeks blockchain solutions via Startup Challenge

Announcements | July 27, 2016 By:

Ernst & Young (EY) announced a Startup Challenge in London to encourage startups explore blockchain technology.

EY’s six-week mentorship-driven startup program will focus on building blockchain solutions and prototypes. The firm said it is looking for “blockchain startups with the ambition and drive to take on this challenge, in an area they may not have considered before.”

“We are looking for startups using blockchain that have a beta product launched, have some seed funding, and are looking for access to clients and customers in order to continue to grow and develop. If you are one of these startups, we would love to hear from you,” said Ernst & Young Startup Challenge founder and lead Jamie Qiu.

This year’s challenge focuses on two key industry issues: Digital Rights Management (DRM) and energy trading. The company hopes to find blockchain-based solutions pertaining to IP rights, especially the ownership of proprietary content. Energy trading is a specific area of commodity trading that deals with real-time electricity flows using complex supply chains. Energy trading is believed to be in a particularly good position to benefit from the transparency of blockchains.

Ernst & Young is a multinational professional services firm.