Southeast Asia has its first Bitcoin startup incubator with the launch of Satoshi Studios in Delhi.
The incubator, named after Satoshi Nakamoto, the mysterious creator of Bitcoin, will provide a three-month intensive program for startups within the region. The inaugural program will launch in April 2017. Selected startups will collaborate with other Blockchain enthusiasts from the region.
“The name very accurately reflects the type of entrepreneurs we want to incubate and accelerate. Satoshi is an iconic name for all of us in the blockchain industry, and we want our entrepreneurs to challenge the standards of innovation and free thinking set by this name and continue to carry the lamp of innovation,” said founder Sahil Bagla.
Founded in 2016 by Baghla, Nikunj Jain and Ayush Varshney, Satoshi Studios provides work and living space to chose startups for 3 months in Delhi. At the start of this system, each startup will receive funding of $50,000 in exchange for 8-15% of equity capital. Satoshi Studios is on the lookout for startups that solve real problems through Blockchain in any industry. The incubator may even incubate start-ups on the concept stage.
The incubator is backed by some experts within the Bitcoin space, including Roger Ver (who single-handedly funded seed rounds for the whole first generation of Bitcoin businesses), Amit Bhardwaj (who’s leading the march for Bitcoin adoption in India), and Michael Terpin (who co-founded BitAngels , the primary angel network to speculate in bitcoin/digital currency firms).
“India and the remaining of Southeast Asian countries have very similar opportunities to make use of blockchain technology. All of those countries will miss a step within the technological evolution and digitalization process and within the direct adoption of the following, more efficient system, which is why the similarity of problems and solutions causes us to give attention to the whole region and not only on one country, Bahgla added.
Source : e27.co
