Fintech start-up accelerator F10 and Singapore-based non-profit Klaytn Foundation have joined forces to launch an incubation program supporting early-stage start-ups built on the public blockchain, Klaytn.
Klaytn, a blockchain platform developed by South Korean internet giant Kakao Corp, focuses on GameFi, Metaverse and creative content and is looking to expand globally from its international base in Singapore.
The incubator program will enable entrepreneurs and blockchain builders to develop ideas or minimal viable products (MVPs) into scalable businesses using the platform. It is funded through the US$500million Klaytn Growth Fund which supports companies built on Klaytn.
“We look forward to expanding the Klaytn ecosystem with exceptional projects emerging from this incubation program,” said David Shin, head of Klaytn global adoption.
“Working with F10 also cements our role as enablers in the Singapore start-up community. We’re here to stay as the trend shifts towards Web 3.0.”
Working out of Zurich, Singapore, Madrid, and Barcelona, F10 has incubated and accelerated more than 200 start-ups since it was founded in 2015, helping entrepreneurs transform ideas into successful products and companies.
Head of F10 Singapore Jonas Thürig said the Singapore incubator emerged from a shared vision that blockchain technology is ripe for mass adoption.
“We have seen an explosion in Web 3.0 applications and new use cases in DeFi, metaverse and gaming,” he said. “We are convinced that our collaboration with Klaytn for this incubation program will repeat the success that we have achieved with our existing and proven programs.”
Start-ups in the incubator will be able to access expertise in blockchain infrastructure, workshops, mentoring, investor networks, and technical development support. They can also tap F10’s extensive masterclasses, which include tokenomics, growth hacking, community building and governance.
Early-stage start-ups have until 25 February to apply to be part of the three-month incubation program which kicks off in April 2022.
Klaytn’s incubator with F10 is the latest key partnership for the blockchain platform as it pursues global gaming and metaverse expansion.
Other recent partnerships include with Indonesia’s Innovation Factory, Japan’s GMO Group, digital collectible trading platform East NFT, and entertainment group Animal Concerts.