Investment firm SparkLabs has announced that the company will be launching a cybersecurity and blockchain program in the US that’ll be located in Washington, D.C. from next year.
The program will be led by former Startup Grind COO Brian Park and Mike Bott, who is ex-managing director of The Brandery accelerator. The program has been named as “SparkLabs Cybersecurity + Blockchain” and will kick off with an inaugural batch of companies in March next year.
“We want to foster and grow a robust ecosystem in both cybersecurity and distributed ledger technologies. We believe these two verticals are synergetic by nature, but we will seek innovations beyond the overlap,” Park said in a statement.
“It’s so early within this space that we are only seeing the Friendsters and MySpaces of the blockchain world. The next Facebooks and Twitters will be developed over the next several years,” he added.
SparkLabs co-founder and partner Bernard Moon stated that the plan is to run the program for four months with two intakes per year.
The program will use the company’s standard investment approach that sees selected companies offered $50,000 for up to six percent equity. The major focus is not on cryptocurrency but instead enterprise-led technologies. On the blockchain side, that might mean protocols and other infrastructure layer plays.