IOTA (MIOTA) has inked a partnership with Nova, a startup idea factory. At the core of this partnership is the vision to make it easier for up-and-coming technology startups to adopt Tangle, a type of distributed ledger that powers the IOTA ecosystem.
As per the IOTA blog, this is a partnership that will drive up the number of successful startups utilizing the IOTA tangle. Here is an excerpt from the IOTA foundation about this deal.
“The partnership aims to prevent the main reasons for startup failure and ensure that the full potential of distributed ledger technology can be realized. Focusing on the very early stage of startup development, iota will initiate a seed fund to would-be entrepreneurs harnessing the tangle, its distributed ledger technology…entrepreneurs will also have access to an iota test lab to build and test their solutions, nova’s mentoring program, and its expert tech startup team consisting of 20+ startup consultants and a full range of digital disciplines.”
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The work between Nova and the MIOTA is aimed at addressing the underlying reasons that often restrict the scope and reach of tech startups. Besides offering financial aid to entrepreneurs harnessing the Tangle, the IOTA Foundation will also open up its test lab for startups to build, improve, and test their Tangle-based solutions.
Nova will chip in with its expertise in mentoring would-be entrepreneurs. The Liverpool-based startup cofoundery will lend its tech startup team comprising 20+ startup consultants for the cause and invest in tangible ideas rich in potential for user problem-fit.