Tokocrypto CEO Pang Xue Kai and BRI Ventures CEO Nicko Widjaja signed the MOU at T-Hub Batubelig, Bali

Following up on the launch of TokoLaunchpad Version 2.0 in 2021, Indonesia-based Tokocrypto collaborated with BRI Ventures –through its Sembrani Wira Akselerator initiative– to launch Tokocrypto Sembrani Blockchain Accelerator (TSBA). This programme is meant to empower blockchain and tokenisation projects in the country.

Tokocrypto CEO Pang Xue Kai named the collaboration a milestone for the company as it successfully gained the trust of a CVC under a leading state-owned bank in Indonesia. He hopes that this accelerator programme can help develop the ecosystem and create a positive impact on the Indonesian blockchain and startup ecosystem.

“We hope that this collaboration will accelerate the development of Web3 initiative and the growth of metaverse ecosystem, especially since we already have two growing venture capital funds: Sembrani Nusantara and Sembrani Kiqani which focuses on investments in non-fintech sectors,” BRI Ventures CEO Nicko Widjaja in an official statement.

The accelerator and its criteria

Through TSBA, the two companies intended to form an accelerator programme that provides an extensive module specially designed to launch blockchain projects and startups to the global stage. This programme includes the various aspects of developing the blockchain technology itself, the economic values or tokenomics, team culture formation, mentorship/guidance for listing and fundraising.

The programme requires participating startups to have secured at least an early stage funding. The company is also required to develop its own blockchain technology or have a working product or a white paper.

Also Read: Demystifying NFTs and DeFi

Markus Liman Rahardja, VP of Investment dan Business Development at BRI Ventures, who was also present during the MOU signing in Bali on January 20, highlighted the two aspects of fundraising that will be the focus of BRI Ventures: crypto and venture fundraising.

The VC firm itself has invested in more than 18 fintech and non-fintech startups and launched two venture funds that included the participation of Grab Ventures, Celebes Capital, Mahanusa Capital, Buana Investment, Pulau Intan, and several family offices.

The Sembrani Nusantara fund, which was launched in early 2021, had invested in several agritech startups such as Sayurbox, new retail sectors such as Haus!, Brodo, Yummy Corp, and logistics sector such as Andalin. The Sembrani Kiqani fund, which was launched in early 2022, is focussing on D2C and metaverse.

Providing a hub for crypto enthusiasts

In 2021, Tokocrypto launched several initiatives to develop the crypto asset ecosystem in Indonesia. Starting from launching its own token TKO in April, NFT marketplace TokoMall in August, to supporting the Bekind movement in developing various CSR programmes through TokoCare.

With the launch of TSBA, Tokocrypto officially introduced T-Hub in Batubelig, Bali, as an educational and social platform to develop the crypto ecosystem in Bali. The startup has previously launched a similar concept in Senayan, Jakarta.

As a legitimate crypto asset marketplace, Tokocrypto believed in its obligation to facilitate any activities that can potentially develop the crypto asset community. “One of the ways for blockchain and crypto assets to grow in the industry is through bridging connections. This is why Tokocrypto aims to facilitate the growth of crypto assets amidst the traditional finance system,” Kai said.

Also Read: We want to facilitate organisations’ Web3 transition from bits to atoms: Brinc CEO Manav Gupta

Outside of TSBA, there are already several startups or projects that are participating in TokoLaunchpad. Some of it included Play it Forward DAO, Avarik Saga and Nanovest. Kai also named more than 15 startups and projects that are currently in talks to join the initiative.

The registration for the TSBA accelerator will be closed on February 10 with shortlisted participants to be announced on February 14. The programme itself will kickstart on February 21.

The article was written in Bahasa Indonesia by Kristin Siagian for DailySocial. English translation and editing by e27.

Image Credit: DailySocial

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