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  • NEM Ignite Incubator aims to take new ideas and turn them into functional companies, which will enhance the NEM ecosystem.
  • NEM Ignite will be open to applicants for the first cohort in the second quarter of this year. 

The venture capital and investment wing of the NEM blockchain ecosystem, NEM Ventures, has recently launched a new project to mentor and provide financial assistance for early-stage blockchain projects. The project named “NEM Ignite Incubator,” aims to take new ideas and turn them into fully functional companies, which will enhance its ecosystem and technology adoption.

NEM Venture said:

NEM Ventures will assist incubatees by fostering connections between cohort participants, prominent partners and industry professionals, while helping founders develop their objectives, plans and technology to execute on their vision. Acceptance into the program includes moderate financial assistance in the form of investment to help participants get started with pre-seed funding.

Dave Hodgson, director and co-founder of NEM Ventures, said:

NEM Ignite has been developed to ensure companies that wish to build on the platform have the tools to best ensure their success. It represents an investment by the community in early stage companies who are building their future hand in hand with our ecosystem. With the NEM Symbol launch coming soon, it is a time for growth in the ecosystem and NEM Ignite is one of several ways that NEM supports projects building on our technology.

NEM Ignite will be open to applicants from Q2 2020. A beta group of pre-screened firms is being incubated currently to ensure the processes are all functioning effectively. NEM/USD is currently priced at $0.046009.