IOTA foundation is partnering with a Liverpool-based tech incubator, Nova. The deal aims to enable more enterprises to adopt Distributed Ledger Technology to offer better services to clients. The deal will be targeting startups that usually grapple with inefficient technology that threatens the very existence of infant companies in the face of stiff competition.
Offering Guidance And Support To Enterprises planning To Use IOTA Tangle
Startups are being advised to apply for the program on the Nova website. The deal involves giving mentorship and funding to successful applicants. This will ultimately enable them to develop new business models that are powered by IOTA technology.
The joint support from the Nova cofoundery and IOTA foundation will offer the fundamental support that is needed to actualize business visions. According to Andrew Dean, Head of Partnership at Nova, 90% of startups fail due to mistakes in the initial stages. However, this will be a thing of the past as Nova and IOTA will allow businesses to access IOTA Tangle to avoid implementation errors.
Additionally, with IOTA technology, real-life problems will be able to be solved by cutting edge solutions that are powered by the best Blockchain technology in the world.
It is also important for startups to note that the guidance and support being offered also extends to full access to IOTA’s test lab that is perfect for building and testing startup solutions on Tangle.
Linking The Gap Between Ideas And Business Models
In the conventional strategy of transforming ideas into sustainable and marketable business models, errors or omissions can be costly in terms of hindering the business platform from taking off. According to the co-chair and co-founder of IOTA, David Sonstebo, this project will be vital in enabling businesses to establish themselves and be competitive through adopting next-generation IOTA technology that is efficient, instant, and secure.
About The Tangle Network
IOTA’s Tangle network serves inefficiencies and limitations that Blockchain-based technology platforms cannot. Particularly, it can revolutionize machine to machine transactions that are the fundamental feature of the Internet of things operations.
IOTA is an open source Distributed Ledger that is designed to power IoT through fee-free microtransactions. It also offers data integrity between machines to facilitate machine communication.
Through IOTA and Nova partnership, startups will have the necessary support to innovate and offer scalable, viable, and sustainable solutions to real-life challenges in various industries.
Nova was founded in 2014 and is based in Liverpool, UK. The platform has a program that enables entrepreneurs to implement their ideas by creating scalable and successful tech companies.
Nova has experience in mentoring startups in healthcare, eGaming, fintech by using its team of 20 advisors and over 200 marketers, software engineers, and designer from across the world.
Meanwhile, IOTA’s native Token is MIOTA. At a market cap of $861,797,000 and a price of $0.3, it is the 14th largest Cryptocurrency in the market. The deal with Nova could be the key to increasing the adoption of this Token as startups seek an on-platform Token.