F10 partners with Kakao’s blockchain foundation to launch incubator

Fintech startup accelerator F10 has teamed up with Klaytn Foundation – a nonprofit entity under the blockchain unit of Kakao, the South Korean internet firm – to launch an incubation program in Singapore that supports early-stage businesses.

F10 accelerator team / Image credite: F10 accelerator

The three-month program, which kicks off in April, aims to help entrepreneurs develop ideas or minimal viable products (MVPs) into scalable businesses.

Launched in June 2019, Klaytn is a public blockchain platform focused on the metaverse, GameFi, and the creator economy. It is currently expanding its regional footprint from its base in Singapore using the US$500 million Klaytn Growth Fund.

Established in August 2021, Klaytn Foundation will also provide participants a grant in the form of a Klay token, the cryptocurrency coin for the Klaytn blockchain.

Startups selected for the incubation program will participate in workshops, receive mentoring, and gain access to an investor network as well as get technical development support and a workspace in Klaytn’s office.

“The creation of this new incubator emerged from a shared vision that blockchain tech is ripe for mass adoption,” said Jonas Thürig, head of F10 Singapore. “In the recent 1.5 years, we have seen an explosion in Web 3.0 applications and new use cases in DeFi (decentralized finance), metaverse, and gaming.”

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Participants in the incubation program will gain access to F10’s curriculum, which features topics such as problem and solution fit, tokenomics, growth hacking, community, and governance.

Klaytn announced yesterday that it has signed five strategic partnerships as it aims to be the blockchain of choice for gaming and metaverse projects around the world. It is also pursuing continued integration with the  DeFi ecosystem.