Highly reputed Singaporean technology firm, BCB Blockchain broke the news that it will be lending strategic support to incubators and startup catalysts working under the Department of Science and Technology (DOST) via a P15 million fund.
According to the latest reports, a Memorandum of Agreement was signed by the tech firm with the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEETRD) – DOST during the third edition of the National Technology Business Incubator Summit or the well-known TBI Summit.
The MOA affirms that BCB Blockchain will put in its best efforts while collaborating with the Philippian government to trigger the progress of startup ventures and projects. The firm will be dedicated to achieve its aim by utilizing its fund capital along with the expertise of its blockchain network to design smart city projects.
“We are enthused to have this collaboration with BCB and eager to partake of their expertise, knowledge base, ecosystem, relationships, and experience in blockchain technology, venture building, and accelerating local startups. We hope that this partnership will ignite the next wave of applications and innovations for the development of sustainable and smart cities,” quoted Dr. Enrico C. Paringit, Executive Director of PCIEERD-DOST.
Apart from the collaboration mentioned above, BCB Blockchain has entered into several partnerships with various universities and tech startups belonging to different parts of the country. It looks to make collective result-oriented efforts with its partners in areas like research and development, seminars and training, promotional activities, co-incubation of projects, competitions, hackathons, blockchain development, etc.
The integration of the firms will comprise various accomplishments, including promotional activities, growth of tech communities, mentorship to important projects along with funding, and entrance into global markets upon commercialization of the projects.
The various educational partners involved in the project include eminent names like Far Eastern University, De La Salle University Manila, Technological Institute of the Philippines, Adamson University, Holy Angel University, Batangas State University, Technological University of the Philippines -Visayas, University of Southeastern Philippines, Caraga State University, Mindanao State University-Iligan Institute of Technology, Siliman University, and QBO Innovation Hub.
Douglas Gan, the CEO of BCB Blockchain, opined that with the expertise of BCB Blockchain services, DOST, educational organizations, and TBIs, would excel in producing revolutionary projects for smart cities.
As part of the BCB education initiative, various competitions, Bug Bounty programs, and hackathons will be organized in various cities in the coming year. The winners shall be entitled to prize money of $15,000. Also, the projects selected will get a chance to take part in the programs for commercialization and fundraising.
BCB has joined hands with R3D Global to give a boost to the adoption of DigiCerts in the country. DigiCerts offers storage of certificates on a decentralized blockchain ledger with a tamper-resistant feature. The firm aims to bring a sharp decline in fraud cases concerning certification issues through the partnership with DigiCert platform.