Crypto and blockchain-focused venture capital firm IDEO CoLab has unveiled an incubator program for decentralized finance (DeFi) startups.
The "DeFi Residency Program" had been running in stealth mode since June. The public launch is aimed at guiding more DeFi startup founders and converting their ideas into life.
Specifically, IDEO CoLab looks to help founders navigate through product, regulatory, and hiring aspects of building a startup.
There are currently 10 DeFi startups in the program, and three have already graduated: Futureswap, Fairmint, and PoolTogether. The current DeFi residents include decentralized savings and lending protocol Akropolis, governance management platform Boardroom, permissionless options protocol Primitive Finance, and synthetic asset protocol ARCx, among others.
Overall, IDEO CoLab has incubated and invested in over 30 crypto startups to date.