Tencent Launches Blockchain Accelerator Program

Chinese internet giant Tencent has waded into the blockchain accelerator space.

According to The Block, Shenzhen-based tech company has launched a blockchain accelerator seeking to aid about 30 blockchain-focused companies.

Named the Tencent Industrial Accelerator, the program is open to early-stage startups as well as established companies looking to add a blockchain twist to its wares. Early-stage companies however will need to have secured at least one round of funding to be eligible.

Selected projects will receive a slew of benefits, including mentoring meetings and one-year access to Tencent’s blockchain-as-a-service platform, gratis.

Tencent is absolutely no stranger to blockchain tech. As The Block notes, the company has filed the most blockchain patent applications in 2019, sending out nearly 720 applications versus Alibaba’s 470.

The program has begun taking applications and will continue to do so until June 6, 2020.

Photo: TechCrunch