Crypto venture firm IDEO CoLab unveils incubator program for DeFi startups

DeFi • December 17, 2020, 9:00AM EST
UPDATED: December 17, 2020, 9:01AM EST
The Block

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.

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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.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.

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