Colombian capital supports blockchain Startups with $2.3M fund

Last Updated: 26 June 2021

The city of Bogota in Colombia just reported it would back blockchain organizations through a blockchain venture program. The program, called Center point Blockchain Bogota, will convey financing to 100 organizations creating blockchain-based arrangements. This is important for a progression of drives bound to modernize Bogota and transform the locale into a savvy city.

Bogata Programs will finance blockchain Startups.

The city of Bogota will uphold blockchain organizations with direct financing through a progression of subsidizing programs. The program, called Hub Blockchain Bogota, will convey 2.8 billion pesos ($740K) to blockchain-based organizations with valuable drives. The Jorge Tadeo Lozano University, Innpulsa, and Biointropic y Tribe Accelerator Singapur likewise support this drive. The organizations intrigued should introduce their proposition to Fitic, the Bogotá Innovation, Technology, and Creative Industries Fund (FITIC). This establishment will choose what thoughts will be qualified for getting financed.

Bogata Programs

The tasks with the most imaginative thoughts coordinated to take care of issues in the city will benefit. Every startup will get from 10 million up to 50 million pesos to foster its recommendations. The new businesses chosen will likewise get specialized counsel from FITIC to carry out their thoughts. The establishment hopes to profit 100 new businesses with this program.

Blockchain Bogota program

The Hub Blockchain Bogota program is essential for a greater drive to make Bogota a more brilliant city, as indicated by its chairman, Claudia Lopez. There are different projects following this bearing for different businesses as well. Plan Bogota looks to reevaluate the organizations in the city offering items and administrations through the appropriation of new advancements. Another program called Innovative Green Businesses will support organizations creating drives to affect the climate in a positive design.

Finally, Environment 2021 determines current organizations to foster new tech-based items and administrations. City hall leader Claudia Lopez expressed that with these four FITIC programs, we will help those organizations and business people searching for new answers to react to flow and future difficulties, just as those produced by the fourth modern upset. This development is evidence of the significance that urban areas are providing for new advances like blockchain. Colombia dispatched a Bitcoin sandbox last month, joining forces for digital currency trades with banking administrators. This can prompt the refinement of its administrative structure to get more digital money and blockchain-based organizations later on.

Blockchain companies play an important role in the development of cryptocurrency. Nowadays, many countries, companies, and banks are stepping into this field and adopting digital currency. Despite the current market situation of bitcoin and other cryptocurrencies, many people are still speculating that digital currency will take over the market again. Some even think that the current market situation is a buying opportunity for those people who couldn’t invest in digital currency because of the high prices. Now they should invest in it because, at the end of this year, cryptocurrency can reach new heights.

Author

  • Hello, my name is Luke Handt; I am a successful Bitcoin trader, financial analyst, and researcher. I have been studying the market trends for the conventional stock exchange system globally since I was in college.

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