Silicon Valley and New York City have been a common destination for startup incubators for years. Serving as an alternative to acquiring venture capitalist funding, incubators provide training, resources, and support – offerings that are becoming invaluable for budding startups — including those in blockchain — in these busy cities.
Because Phoenix is one of the fastest growing tech hubs in the nation, it makes sense that it would be the next major city to host incubators of this nature. In fact, Polyient Labs is doing just that – capitalizing on the strength of the economy and growth of the state’s tech sector, the company has founded an incubator for blockchain-based startups in the Valley.
“Phoenix is actually becoming quite a hotbed of blockchain technology not only at the startup level but also from our politicians and some of these counsels and agencies,” Polyient Labs Creative Director Cody Robertson explains. “For example, ASU has a blockchain-focused lab working with Dash, which is a leading cryptocurrency in Phoenix. GPEC’s FinTech sandbox is leading the nation in the government approach-first — saying ‘hey, instead of stifling innovation, let’s create a way for people to innovate on the blockchain in a compliant manner.’”
Polyient Labs is an early-stage business incubator helping entrepreneurs fast-track blockchain innovation through capital infusion, guidance, and solutions. Polyient works with companies using decentralized tech in financial services, corporate compliance, content management, design, and more.
“As an incubator, we sit down with founders that have a blockchain-related idea and we help them flesh it out,” Robertson continues. “We test assumptions, validate their business idea, and see if we can get them what we need. And in many cases, we’ll either provide them with working capital or own resources to help get them off the ground. As an agency, what we do is provide them with typical agency services such as branding, strategy, content-writing, PR, product strategy — basically everything from A to Z, but for blockchain.”
Polyient prides itself on building relationships with startups. By learning about how they can best assist startups, those startups can develop faster and help Polyient grow; it’s a win-win. In fact, Polyient takes a multifaceted approach to startup management – in congruence with their incubator resources, the firm also provides agency-style assistance.
“Polyient and incubators like us are relationship-based,” Robertson said. “We have our best interest in the success of these companies, so I’m going to put in my hundred percent just as much as they are to help their companies reach that next level.”
The possibilities for blockchain technology are endless. It has applications in aerospace, real estate, cybersecurity and government. Incubators like Polyient Labs allow startups like these to get off the ground and contribute to the state’s competitive and progressive business climate.
This story was originally published at Chamber Business News.