ibm - IBM and Comcast Get Involved in Blockchain Backing Startup Fund

IBM and Comcast Get Involved in Blockchain Backing Startup Fund

International Business Machines Corporation (IBM), and Comcast are getting involved in the blockchain world backing an investment fund working with blockchain technology. The investment fund works helping enterprises and startups to use blockchain technology.

IBM and Comcast Support Worldwide Blockchain Adoption

MState is a start-up accelerator that plans to invest in several blockchain companies all over the world. In addition to it, the intention is to connect them with Fortune 500 customers. MState is planning to invest $25,000 to $50,000 dollars in five or six companies over the next months, according to Rob Baily, MState co-founder in a phone interview with Bloomberg.

Both IBM and Comcast are helping this company to grow by providing different services and funding. The companies funded by MState are not the kind of companies that IBM and Comcast usually invest in due to the early state of the projects.

“Think of us as an earlier-stage scout fund for other funds. There is a massive opportunity in Fortune 500 companies. They don’t know which companies to work with,” commented Rob Bailey.

Other Enterprises Give Support to MState

Galvanize, a technology incubator venture fund is also supporting MState operations. At the moment it’s offering its offices in New York and San Francisco for MState to run a six-month program. The intention is to help technical founders with all the aspects of the marketing strategy.

The first investment made by MState was in Blockdaemon. This enterprise provides one-click deployment, management and supervision of nodes to all major protocols, including Ethereum.

In order to include a blockchain start-up to MState program, the official MState webpage has an application process that must be followed. Once a project is submitted, then, a group of venture capitalists and blockchain experts will evaluate these projects and the five best companies will be selected for the program.

With the Blockchain market growing every single months, in the coming years is expected to grow to $2.3 billion dollars. At the moment, more than 100 Fortune 500s companies have been investing in blockchain and the number could increase in the near future.