Tencent, the Chinese tech giant and operator of WeChat, is planning to mentor 30 companies through its new blockchain accelerator, the company said on its website on 29 April.
According to the announcement, the “Tencent Industrial Accelerator” is already opened to applications, with a total of 30 places available. Projects interested in the accelerator have until the 6th of June to apply. Tencent’s new venture is open to both early-stage and already established blockchain startups, though in order to be eligible, projects need to have gone through at least one funding round.
The tech giant is also looking to recruit projects from a variety of sectors, such as industrial blockchain solutions, blockchain applications for data sharing, supply chain financing and digital asset transactions. Blockchain projects that are focused on government affairs, energy, education, logistics, manufacturing, agriculture and public welfare will also be welcomed.
Successful applicants will receive a number of benefits, such as four mentoring meetings per year, industry networking and business opportunities, and the opportunity to make overseas trips connected to their chosen blockchain industry. In addition, the projects will have a one year of free access to Tencent’s blockchain-as-a-service platform. The cost of the program will be 100,000 RMB per person, which is roughly $14,000.
Last month, Tencent became one of a few companies to be included in China’s “National Blockchain and Distributed Ledger Technology Standardisation Technical Committee”. Other members of the committee include executives from notable companies and universities, such as Baidu, Tencent, Huawei, Peking University, Tsinghua University, Fudan University, and others.