Blockchain startup Oasis Labs has teamed up with some notable venture capital firms and hedge funds to launch a new technology startup incubator.
Announced Tuesday, the Oasis Startup Hub will focus on aiding firms building “privacy-first computing on blockchain” platforms, according to a press release. Accel, a16z crypto, Binance Labs, Pantera Capital and Polychain Capital will all provide support for the program.
As structured, the hub will offer developers access to technical support and early access to new technology, as well as assistance and feedback from investors.
Program members will further have the opportunity to work directly with investors and Oasis Labs engineers through working sessions, office hours and private events, the release indicates.
In a statement, CEO Dawn Song explained that, “we’ve seen strong interest in our private testnet from companies and developers who want to build scalable applications that protect user data and put privacy first – and are constrained by existing platforms.”
As such, Song added:
“We’re encouraged by the diversity and volume of application developers who share our values and validate our approach. We designed the Oasis Startup Hub to bring experts together for invaluable interactions around how to design, build and deliver exciting new applications.”
Oasis Labs already has several launch clients for the hub, which, while it did not name them in the release, are already working on applications that “require strong privacy protections.”
At present, these applications include areas like decentralized credit scoring and distributed data marketplaces for artificial intelligence, though other startups can still apply to join the hub.
Applications focusing on data protection will continue to gain importance, Accel partner Jake Flomenberg said in the release, noting the recent string of “high-profile privacy failures.”
Similarly, Pantera Capital partner Paul Veradittakit commented that the hub “offers a unique opportunity” for funds “to share expertise and relationships to solve key issues around blockchain scalability and privacy, and move toward widespread adoption.”