Tokocrypto, BRI Ventures to spur blockchain in Indonesia
By Digital News Asia May 18, 2022
- Partnership with BRI Venture to spur blockchain industry
- Blockchain still nascent but gaining acceptence in Indonesia
Tokocrypto has partnered with the country’s leading government-owned bank’s corporate venture capital firm, BRI Ventures, for an initiative known as Tokocrypto Sembrani Blockchain Accelerator (TSBA) powered by TokoLabs.
In a statement, the company claimed that through its accelerator program, the collaboration has helped emerging blockchain projects and startups scale up with the support of technology, community networks, and also allow them to gain access to funding opportunities.
TSBA has incubated projects and elevated them across four primary pillars - branding and marketing, investment strategies, investment landscape tactics and access to fundraising opportunities, it said.
The central nexus of TSBA, which connects the four pillars of the accelerator program, is the networking and mentoring support of mentors from the local blockchain scene such as Nicko Widjaja (Chief Executive Officer of BRI Ventures), Pang Xue Kai (Chief Executive Officer of Tokocrypto).
Others include Teguh Kurniawan Harmanda (COO of Tokocrypto), Lai Chung Ying (chief strategy officer of Tokocrypto) and Nanda Ivens (chief marketing officer of Tokocrypto) as well as mentors from the global blockchain scene.
The program also initiated the support of over 50 investors including Tokocrypto, Binance Labs, Cydonia, Solana Labs, Signum Capital, YGGSEA, Alameda Research, Huobi Ventures, Crypto.com, QCP, Avocado DAO, Intudo Ventures to name a few, the company said.
Javier Tan, CEO of Creo Engine says, “The TSBA program has tremendously helped our project. We’ve known and worked with many great partners internally and externally since the start of this program. We truly hope that the TSBA program continues to champion local blockchain projects and support start-ups in the long run.”
Participants and startups were provided with the necessary tools on fundraising, team culture, blockchain development, listing advisory and tokenomics to develop the skills required to make a mark within the blockchain industry, Tokocypto said.
Participants onboarded into this program include VC Gamers, nanobyte, Avarik Saga, Creo Engine, Eizper Chain, Duckie Land, Play Fix, Play it Forward DAO, Mythic Protocol, getKupon, Avarta and Survein, it said.
“The startups that were selected are a reflection of the flourishing blockchain ecosystem in Indonesia, and this is just the beginning.
“Two years ago, the term blockchain seemed foreign, but today it is a digital powerhouse that comes in the form of NFTs, decentralised finance, and even GameFi. At Tokocrypto, we are proud to be disrupting this industry,” says Pang Xue Kai, CEO of Tokocrypto.
Since the launch of the program, Tokocrypto said it has connected the participants with global mentors such as Tamar Menteshashvili from Solana Labs and Nicole Zhang for Binance Labs.
Nicko Widjaja, CEO of BRI Ventures, said, “We see blockchain as an integral part of the future of the internet, which will be the driving force of the digital economy. We hope that in the future there will be more use cases developed in various sectors using blockchain technology.”
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