Enable fund for 430,000 Euros to finance projects with Blockchains

by Patrick Gon

Small and medium-sized European companies that use solutions with a blockchain, or propose related projects, can participate in the second Blockchers call to opt for financing of up to 50,000 euros, if they reach the end of the competition. The deadline for receiving the proposals began on January 13 and will end on March 13.

Unlike other acceleration programs, where resources are allocated to the winners at the end of an evaluation process, in the case of Blockchers the funds are distributed in stages to the selected companies . The work calendar includes four phases: call, immersion, implementation and recognition.

In the first phase , proposals will be received to be evaluated between March 16 and April 3. The favored projects will receive 3,000 euros and will go to the immersion phase in which they must present a model of the project and a general presentation of the solution to be applied. Once these two stages have been completed, the projects will go to the implementation phase, in which up to 30,000 euros are available. The allocation will be subject to the achievements made according to the key performance indicators (KPI).

The fourth and final stage will be recognition. In this instance, all the projects that successfully completed the implementation phase may request the award of a prize for the best blockchain solution. Blockchers will select two projects, first place will receive 17,000 euros and second place another 13,000 , which would complete the 430,000 euros available for the second call.

Regarding this work methodology, the organization indicated the following:

Each stage includes a set of activities that qualify for financial support. All funds disbursed will be based on concrete results and not administrative justifications.

The results of the first call

In the first call for Blockchers, more than 100 funding requests were received, from which 12 proposals were selected for execution. Eight of these initiatives are in the implementation phase, which will culminate in March with the selection of the winning startup of the first edition.

Between both calls, 750,000 euros were allocated to promote the development of projects with distributed accounting technology (DLT) in Europe. It is important to remember that the funds available for the Blockchers competition come from the Horizon 2020 program of the European Union .

In June 2018, the European Commission opened an international call for what it called the Blockchain Horizon Award for social applications of blockchains.

Distributed accounting or blockchain is a technology that was born with Bitcoin as a digital system and that allows any type of data transaction, between two or more people, without the intervention of intermediaries or trusted third parties. The process is carried out through the internet and once the information in the registry is settled, it cannot be modified.

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