Blockchain lab for startups StateZero Labs to offer £50k equity-free

by Startacus Admin

London-based StateZero Labs, the world’s first dedicated Blockchain Lab for startups, will be opening its doors to six selected startups as part of its first cohort in January 2019. With applications open until 23 November, we take a look at the latest addition to London’s exciting technology community.

Based in King’s Cross, StateZero was founded earlier this year by Tazz Gault and Katie Mills, both of whom have an impressive track record in scaling high-growth startups. Its mission is to find, fund and accelerate the potential of outstanding founders using blockchain for business applications. Its chosen startups will move in to StateZero’s office space for an intensive three-month programme, which will provide founders with everything they need to scale quickly. 

Perhaps most excitingly, and in a move away from the traditional accelerator model, the programme will offer chosen startups a £50k equity-free grant. StateZero’s only requirement is that its startups use PLUG, a proprietary, proven framework to build production-ready blockchain systems for practical application. It’s a win-win for its portfolio companies, with access to leading blockchain technology, plus a substantial capital injection to help them build world-beating products. 

Crucially, StateZero is on the hunt for businesses using blockchain to solve pressing real-world issues. It has stressed that it is specifically not looking for cryptocurrency solutions, believing that blockchain technology has business potential that extends far beyond crypto.

Co-founder Tazz Gault explained that her team is ‘looking for founders with ideas to tackle real problems. Whether it’s creating transparency in the supply chain to ensure medicines or luxury goods are genuine, or combatting the devastating impact of fast fashion by ensuring the provenance of ethically sourced materials.’

Fellow co-founder Katie Mills added, 'we are looking for a unique enterprise solution using blockchain technology with a team that have an exclusive understanding into the industry they are trying to sell to.

'We are on the hunt for companies that are either looking for blockchain technology to be incorporated into their products, or are not happy with the current infrastructure they're currently using as it doesn't solve their needs. We have our dedicated framework for them to use as part of the programme. 

‘’There are a lot of misconceptions surrounding the use of blockchain technology. We want to debunk the myths whilst also providing the ideal environment for founders to build their enterprise solutions, whether that is by providing funding, our office space or access to our global network.’

Teams will need to have a minimum of two co-founders, and one of the team members will need to have basic coding ability in order to use PLUG itself.

Applications to join StateZero are open until 23rd November, with shortlisted startups then invited to pitch on the 12th and 13th December. The three-month long programme kicks off on 14th January 2019.

To contact the StateZero team visit StateZero Labs, for more inspiration read over this recent interview with StateZero Director Tazz Gault and head directly to F6S if you are all ready to apply. Best of luck!

 

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Published on: 15th November 2018