The IOTA Foundation is the foundation behind the cryptocurrency IOTA (MIOTA). Now the Foundation has announced in its blog a new partnership with the start-up incubator Nova.
The blog states that the partnership aims to promote new start-up companies using IOTA technology. The promotion should reach especially in the important early phase. The program gives selected start-ups access to IOTA’s mentoring program and start-up technology team. This team is reportedly composed of over 20 technology consultants.
A synergetic partnership
Nova will bring its expertise to partnerships with emerging entrepreneurs and the co-founding of technology start-ups. So far, Nova is said to have co-founded over 80 startups in the technology sector. More than half of them are still active after more than three years. This rate is well above the industry average, it says on the Nova website.
David Sønstebø, co-founder of IOTA, commented on the partnership
“The Tangle network overcomes many of the limitations and inefficiencies of blockchain technology, and therefore has great potential to change machine-to-machine transactions as they are based on the Internet of Things. Our partnership with Nova is about enabling this innovation by helping to bring initial ideas to fruition in the form of feasible, scalable and sustainable business models”.