Tenity launches XRPL Accelerator in Singapore for early-stage startups building on the XRP Ledger

Switzerland-based venture capital firm Tenity has on Tuesday announced that it has become the first program partner of the XRP Ledger (XRPL) Accelerator in Asia Pacific with the launch of a Singapore-based cohort.

Tenity said in a statement that the 12-week program will support bold, visionary entrepreneurs building cutting-edge products and new use cases for blockchain and crypto technology on the XRPL.

The program will kick-off in August 2023 and conclude with a Demo Day event in November 2023 along with the opportunity to attend the Singapore FinTech Festival.

The startups making it into this competitive program will receive a $50,000 program grant, gain valuable insights from industry-leading mentors, refine their product-market fit, and connect with potential investors and partners.

The XRPL Accelerator in Singapore run by Tenity and supported by Ripple, the leader in enterprise blockchain and crypto solutions, will be the second cohort of this exciting new initiative to support blockchain and crypto tech founders globally, with the first cohort starting in June 2023 in New York.

“We are thrilled to join the XRP Ledger ecosystem in Asia Pacific – a region that is poised for future growth of Web 3.0 adoption,” said Jonas Thuerig, Head of Asia and Managing Partner at Tenity.

“Running the program out of Singapore provides a vibrant ecosystem of potential customers, partners, investors and mentors who will be introduced during this accelerator program,

“The global presence of the XRPL community will then ensure that the initial use cases developed during the program can be scaled across the globe,” he added.

The XRPLAccelerator is looking for driven, forward-thinking builders and entrepreneurs from Asia Pacific utilizing the XRPL in their product development.

Ideal candidates will have a minimum viable product, business model strategy, and preferably a live product on the XRPLin place, though the latter requirement is not mandatory to apply.

In particular, the program is looking for products with commercial potential and a clear market need that will benefit from the program content.

The hybrid program will run primarily virtually, with on-site components, such as the Demo Day in early November.

The program will cover a wide range of topics, but is broken into two main phases: (1) exploration, with the goal to form hypotheses on entry barriers, market needs, and monetization; (2) validation, with teams focusing on building a refined, validated, and attainable strategy blueprint.

The XRP Ledger (XRPL) is a decentralized, public blockchain led by a global developer community.

With ease of development, low transaction costs, and a knowledgeable community, it provides developers with a strong open-source foundation for executing on the most demanding projects—without hurting the environment.

Tenity is a global innovation ecosystem and early-stage investor for FinTech and InsurTech, with hubs in Switzerland, Singapore, Nordics & Baltics and Spain.

Its vision is to create the future of finance by accelerating tech startups, and connecting them with big business, investors and industry experts.

Since its inception in 2015, more than 250 tech startups have participated in Tenity programs, both at early- and growth-stage, which have attracted more than $370 million in funding.  

Switzerland venture capital firm Tenity to expand investment in fintech and insurtech in Europe and Asia