DEO CoLab is part of the design firm IDEO that launches a blockchain accelerator named Startup Studio, along with another 20 blue-chip and crypto names. Some of the most famous partners are online giant Amazon, Deloitte, and Fidelity, and also Messari cryptographic company, Ethereum Foundation, Stellar Foundation, and more.
The new enterprise will recognize each of the partners hosting accelerating programs to implement entrepreneurial blockchain entrepreneurs and firms with the tools and funding they need to further the “development, adoption and impact of blockchain technology,” said Ian Lee, managing director at IDEO CoLab Ventures.
IDEO shares the belief that introducing blockchain technology can give users more access, ownership, and control over personal identities and financial life, but equally consider blockchain “remarkably useless for the average person.” As you watch the development of blockchain technology, from wallets to key management, and distribution mechanisms to the storage, they are “widely open” to improve, the firm stated.
Progress in the blockchain to develop in a billion or even trillion dollars
Compared to traditional startup accelerators or incubators, the IDEO CoLab Startup Studio splits the drive accelerator model into half-day, and day-long workshops managed by IDEO and its network of partners focused on highly specialized requirements. It can be product validation, brand design, employment, product testing, or conflict management. In this way, startups can quickly get the help they need when they need it, then go back to their home offices to continue building large companies, teams, and protocols.
It’s not only the blockchain industry IDEO CoLab is promoting, but also the nature of startup acceleration.
Investing in growing startups
IDEO has 21 years of success in design for international corporations like Apple or 3M, Walgreens. The company started to work with startups in 2012. It continued to support underdogs when moving to distributed technologies in 2015. Since that time, the company has collaborated on more than 30 blockchain firms, participated in the creation of 12, and invested in 9 promising protocols and growing startups such as IPFS, ZeppelinOS, Augur, Zcash, Handshake, and Grin.
Also, the company wants to invest in about 12 new blockchain initiatives each year. The success of the accelerator is seen through a reflexive investment from the first IDEO of the first phase of cooperation – Messari, which joined the Startup study.
IDEO’s “Sustainable Model”
Ian Lee, the CEO of the company, expressed the belief that, through Startup Studio, the company found a sustainable model for supporting entrepreneurs at an early stage, and that our approach and value will lead to the best founders deepen their relationship and harmonize incentives with us.
IDEO repeated its cooperation with most part of companies in its portfolio, including those that began long before they invested, Lee says.
Firms supported by Startup Studio are Atrium, Avanta Ventures, Blockchain in Berkeley, Breka, CoinLista, CSAA Insurance Group, Electric, GS Group, Hanwha, NEAR Protocol, Oasis Labs, She256, Silicon Valley Bank and Thesaurus Foundation,.IDEO CoLab, new Amazon, Deloitte, and Fidelity.