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  • Tencent, the operator of major Chinese social media app WeChat, is launching a blockchain accelerator program. 
  • The program is open to both early-stage blockchain startups and well-established firms.
  • Tencent will be accepting applications until June 6.

Chinese tech giant Tencent is launching a blockchain accelerator and will mentor 30 companies developing blockchain-based technologies and services. The program, which is called “Tencent Industrial Accelerator,” is now accepting applications, according to the company’s website. Interested parties can apply until June 6. 

The accelerator is open to both early-stage blockchain startups and well-established firms. However, a project must have completed at least one round of funding to be eligible. The program will focus on recruitment areas such as industrial blockchain solutions and blockchain applications for data sharing, supply chain financing and digital asset transactions.

Tencent noted that the selected projects will be entitled to several benefits. These include – four mentoring meetings per year, the opportunity to learn about the industry overseas, and a valuable new network of industry peers. The projects will have free access to Tencent’s blockchain-as-a-service platform as well. The program will cost 100,000 RMB (about $14,120) per person.