DLab Commits To Funding 150 Startups A Year

SOSV, an asset management company with over $500M USD under its care, has been running accelerators for a while. Undeniably, SOSV doesn’t seem to be resting on its laurels as its team continues to push beyond the boundaries of its industry.

Though HAX, opering in Shenzhen and San Francisco, is their original accelerator and still going places, they have also now financed a New York-based food accelerator and a couple of biology based acclerators.

Perhaps one would think that these accelerators should be enough, but apparently, they are just getting started. SOSV just introduced DLab, a cryptocurrency accelerator built on the Cardano blockchain. DLab aims to develop distributed applications and related solutions.

Details of DLab

Nick Plante is the programmer leading the team that developed DLab. Plante became popular for drafting the JOBS Act as well as Co-Founding the crowdfunding platform, Wefunder.

According to SOSV, the latest accelerator supplies up to $200,000 USD in perks and pre-seed funds. The asset management company noted that the funds came from their worldwide network of accelerators. In an effort to expand, they have also lobbied the Cardano team to form a strategic agreement that will advance blockchain technology research.

DLab Business Interest  

Plante was on hand to bring the efforts of the company into focus. Therefore, Plante explained that their team makes commitments to projects that are “compelling.” On what it takes to support the cryptocurrency industry, the programmer identified dedication, staffing, education, and long-term commitment. When giving insight into the businesses the firm invests in, he disclosed that they prefer sectors that can shape human life in the next century. Speaking further, Plante said that the team focuses on “macro trends,” listing them as synthetic biology, disruptive food, IoT, robotics, and life sciences.

Observing the Blockchain Ecosystem

Plante disclosed that the DLab team has paid rapt attention to all the events in the blockchain industry. He observed that both positive and negative events took place.

On the negative events, he noted that surveys and reports on the rate of ICO exit-scams underlie the importance of reporting such crimes. Amid these negative occurrences, the developer remained bullish on the enormous prospects of cryptocurrency. Nonetheless, he noted that education, proper governance, and incentive structure could right such wrongs.

Regarding the plan the Group has for startups, Plante disclosed that they are already accepting applications for January 2019 cohort. He added that they invest in 150 startups every year.

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