A new blockchain start-up incubator called ‘The Garage’ has officially opened its doors. Backed by large players in the cryptocurrency space, it aspires to be the largest in Europe.
If you’re a start-up in the cryptocurrency space, it is often difficult to get on your feet. With so much competition, industry connections are a must to stand out. That’s why incubators for blockchain-related start-ups are growing rapidly—and one firm from Paris, France is trying to stand out among the rest.
Big Names Back the Garage Blockchain Incubator
Cyril Paglino (@cyrilpaglino), boss of the Starchain Capital, recently took to Twitter the announce that The Garage was officially opening its doors. He posted pictures of the new office where the incubator will call its home.
Today, we’re opening @Thegarage_paris with @_TheFamily , @dune_network and @Starchainfund. Simple mission: grow the Blockchain ecosystem in Europe ! ?????? pic.twitter.com/54nw6lD1Gr
— CyrilPaglino (@cyrilpaglino) November 12, 2019
It should be noted that Starchain Capital previously invested in major ventures like Coinbase, so it has longstanding ties to the blockchain and cryptocurrency industry. It might also be worthwhile to note that Paglino was once a TV show participant on Big Brother—and a breakdance world champion!
All jokes aside, some other big names have decided to jump on board The Garage’s initiative. For example, The Family, a company that helps to educate entrepreneurs, is supporting the endeavor and boasts a strong network of entrepreneurs in Europe.
Dune Network is another major supporter of the Garage blockchain incubator. You may remember Dune because BeInCrypto has previously reported on the project. Starting as a hard fork from Tezos, it has won over many high-profile investors like billionaire Xavier Niel.
What to Expect
The Garage is an ambitious project that is coming out of the GATE running. The incubator already has its sights on becoming the largest in Europe. Given its strong backing from venture capital firms and entrepreneurs, it just might be able to pull it off. Blockchain-related incubators for start-ups are few and far in between in Europe, so The Garage has an opportunity to stand out.
The office space for the incubator spans some 5,000 square feet and plans to be a place where ‘people can hang and learn’ according to Paglino. Starchain Capital is also expected to relocate to the office space.
With The Garage, Paris might see itself experience a blockchain boom of sorts. We’re still at the beginning of a massive fintech transformation.
Images courtesy of Shutterstock, Twitter.
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