Tribe Accelerator announces first batch of 10 startups

TRIBE Accelerator, a blockchain accelerator that is part of Singapore-based venture capital firm Trive Ventures, on Thursday announced its first batch of startups in its product development-focused programme.

The 10 startups, of which half are locally founded, were chosen based on how they are aligned to four key focus areas, which are fintech & insurtech, mobility & supply chain, data & telecommunication, energy & sustainability, as well as the strength of their blockchain use-case.

Ng Yi Ming, managing partner of Tribe Accelerator, said the first batch of firms will be able to develop their ideas over the next four months on their platform.

He said: "We hope to give them the resources they need to excel, and we are excited to see what the startups will be able to accomplish when integrated into our dynamic network of global partners from both the corporate and blockchain ecosystem."

The startups are:

1. sgCarMart: It is the largest new and used car platform in Singapore with more than 5,000 after-market merchants and 2.6 million monthly active users

2. TADA: First launched in Singapore, TADA is the world's first blockchain based ride-hailing application and is now also present in Cambodia and Vietnam. TADA has more than 200,000 users and 27,000 drivers in Singapore within six months of inception

3. WhatsHalal: It is creating a Halal ecosystem that focuses on a streamlined farm-to-table model for the global market

4. MightyJaxx: It is an art and design collectibles studio looking to cultivate a market for smarter consumer products all around the world, with a global fanbase of more than five million individuals. The founder was recognised as one of Forbes' 30 Under 30 Asia in 2018

5. Limestone Network: It is powering the technology layer on top of a 100-hectare Smart City development in the heart of Phnom Penh, Cambodia

6. Digix: It has pioneered the digitising of traditional asset classes, with gold as its first successful use case. Digix was the first company globally to send a live transaction on the Ethereum blockchain

7. Chorus Mobility: Chorus has interoperable, soft and hardware architectures for enabling the connected and autonomous vehicles of tomorrow. Chorus recently won the challenge by Mobility Open Blockchain Initiative, a mobility consortium with BMW, General Motors and Ford as the founding members

8. TEMCO: It streamlines the supply chain ecosystem and aims to tackle the issue of authenticity of high-value goods in second-hand marketplaces

9. Halo: It is building an alternative to existing cloud storage platforms, where users have full control and ownership of their data

10. Accrue: It develops tools for global event analytics and code-free algorithm development. Recognised as one of the Top 7 New York fintech firms by the London Stock Exchange in 2016