NEM Ventures, the venture capital and investment arm of the NEM blockchain ecosystem, announced today the launch of its NEM Ignite Incubator Program. The new program will provide mentoring and financial support for early-stage blockchain projects.
NEM Ignite will help cultivate the growth of meaningful ideas into viable companies that enhance the NEM ecosystem and technology adoption. NEM Ventures will assist blockchain projects by fostering connections between cohort participants, network partners, and industry professionals.
Participants in the NEM Ignite will have access to mentors who provide assistance throughout the virtual incubation process in order to prepare them for market entry, business planning, and investment rounds. The program also provides marketing, public relations and social media support across NEM ecosystem channels, and participants may be given direct access to the development teams or other trusted technical partners that build the NEM blockchain and supporting projects.
The intention is for all cohorts to be delivered virtually, with multi-lingual mentors which enables the relatively small NEM Ventures team to provide support to participants from diverse geographical locations.
“The NEM ecosystem has taken many positive steps since its launch in 2015, and NEM Ignite has been developed to ensure companies that wish to build on the platform have the tools, support, and relationships to best ensure their success. It represents an investment by the community in early-stage companies who are building their future hand in hand with our ecosystem. With the NEM Symbol launch coming soon, it is a time for major growth in the ecosystem and NEM Ignite is one of several ways that NEM supports projects building on our technology. With blockchain being a relatively new industry, there are few places to turn to for advice or guidance and the incubator will help nurture meaningful ideas into projects, and we intend to help fill that gap.”
– Dave Hodgson, Director and Co-Founder of NEM Ventures
NEM Ignite is due to open to applicants for the first cohort in Q2 2020, a further announcement will be made announcing the application process and exact dates. A beta cohort of pre-screened companies is being incubated at present to ensure the processes are all functioning correctly.
Interested applicants will need to create a pitch deck and video to clearly explain their vision, a business plan canvas, and a prototype, if appropriate. Applicants should include what they expect to gain from the program and how they feel NEM fits into their business solution. The program anticipates 2-4 cohorts a year, depending on the uptake, and will take no more than 3 projects per cohort. These plans may be subject to change in response to various external conditions.
Founded in 2018, NEM Ventures comprises a small, highly motivated team of investment and technology professionals. NEM Ventures promotes the growth of the NEM ecosystem through strategic investments in projects which align with the ethos of the NEM community, with a particular interest in social impact and environmentally conscious projects.
To date, NEM Ventures have invested in a number of projects building on the NEM blockchain or which expand the ecosystem, including Vimba, Mobi, Ample, IoDLT, Techemy, and CycleBit.
Speaking on potential applicants, Dave Hodgson concluded, “We encourage those who believe they have a truly differentiated product and long-term vision to apply to NEM Ignite. We’re interested in working with meaningful projects, those who will have the ability to make a difference to the future adoption of blockchain. If this describes you and your business, we urge you to apply.”