Singapore technology firm BCB Blockchain is reportedly partnering with the government of the Philippines in an effort to support new startups and smart city development in the country. In a press release dated November 23, the company confirmed that it signed a memorandum of agreement with the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEETRD) at the 3rd National Technology Business Incubator Summit.
According to the company’s statement, BCB Blockchain will be working with the Philippines to encourage the development of startups through accelerators and incubators in the country. BCB said that it has committed to $300,000 in funding for that effort.
The new partnership comes as BCB Blockchain has entered into other partnerships with tech incubators and universities across the country. The company is collaborating with those entities on research and development, training, hackathons and competitions, promotions, and efforts to develop blockchain projects and apps for smart cities.
Department of Science and Technology Executive Director Dr. Enrico C. Paringit emphasized his government’s lofty goals for promoting tech innovation within the Philippines:
“We hope that this partnership will ignite the next wave of applications and innovations for the development of sustainable and smart cities.”