Bogota Reveals $2.3 Million Program to Finance Blockchain Companies
Bogota, the capital city of Colombia, has revealed they will finance blockchain companies through a blockchain investment program called ” Hub Blockchain Bogota.“ This program will deliver financing to 100 companies developing blockchain-based solutions. It is part of a series of initiatives destined to modernize Bogota and turn the region into a smart city.
Bogota Programs Will Finance Blockchain Startups
The city of Bogota will finance blockchain companies with direct financing through a series of funding programs. Hub Blockchain Bogota has unveiled a 2.8 billion Colombian to blockchain-based companies with useful initiatives.
The companies that support this initiative are The Jorge Tadeo Lozano University, Innpulsa, and Biointropic y Tribe Accelerator Singapur. These companies will have to present their proposals to Fitic, the Bogotá Innovation, Technology, and Creative Industries Fund (FITIC). Fitic will select appropriate proposals to be funded by the Bogota government.
Each startup will receive from 10 million up to 50 million pesos to develop its proposals. The Fitic institution hopes to benefit 100 startups through the program.
Making a Smarter City
Mayor Claudia Lopez said, The Hub Blockchain Bogota program is part of a bigger initiative to make Bogota a smarter city. The Colombian capital aims to create companies in the city that are able to offer products and services by adopting new technologies. They also present another program called Innovative Green Businesses.
Lastly, Environment 2021 will power current companies to develop new tech-based products and services. Mayor Claudia Lopez stated:
“With these four FITIC programs we will help those companies and entrepreneurs who are looking for new solutions to respond to current and future challenges, as well as those generated by the fourth industrial revolution.”
This movement is proof of the importance that cities are giving to new technologies like blockchain.
