IOTA, Tenity Launch Singapore Accelerator to Fuel RWA Tokenization
IOTA Foundation, the team behind Tangle – a distributed ledger technology (DLT) that is specifically designed for the Internet of Things (IoT) environment – has joined forces with fintech incubator Tenity to launch the IOTA Accelerator in Singapore.
This 12-week program aims to empower early-stage startups building products and infrastructure for tokenizing real-world assets (RWAs) on the IOTA ecosystem.
Focus on Sustainable Innovation
"The Asia-Pacific region is brimming with exceptional talent and groundbreaking ideas," said Dominik Schiener, co-founder and chairman of the IOTA Foundation, said in an announcement on Tuesday.
"We, along with Tenity, believe that tokenized RWAs hold immense potential to create lasting value for institutions and users in Singapore and worldwide. This accelerator program will equip new market entrants with the tools and knowledge they need to thrive in this transformative space."
Launchpad for Blockchain Pioneers
The program kicks off in June 2024 and culminates in September with a Demo Day at the Token2049 conference in Singapore. Participating startups will receive a $50,000 grant, mentorship from industry leaders, and access to a network of potential investors and partners.
"We are thrilled to support the next generation of blockchain innovators," said Jonas Thuerig, head of APAC at Tenity. "This accelerator goes beyond mere support; it's a launchpad for these promising ventures. Our hybrid model combines virtual interaction with crucial in-person events, culminating in the Demo Day at Token2049."
Building the Future of Digital Assets
The IOTA Accelerator seeks applications from strong, technically adept founding teams who plan to leverage IOTA's Tangle technology to develop solutions in the following areas:
- Real-World Assets (RWA)
- Decentralized Finance (DeFi)
- Institutional DeFi Services
- Blockchain Infrastructure
The program's curriculum delves into market entry strategies, user needs identification, and crafting effective monetization models. Startups will then participate in a validation phase to refine their business plans.
Web3 developers and entrepreneurs are encouraged to apply for this exciting opportunity to propel their RWA tokenization ventures forward within the IOTA ecosystem.