IBM Corp. and Comcast Corp.’s venture arm will work together in an investment fund for startups that help corporations use blockchain. Under the partnership, Comcast Ventures will provide funding, while IBM will offer up support services to MState startups.
MState, the startup accelerator, plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months. MState, with locations in New York and San Francisco, will also connect its startups with Fortune 500 clients interested in implementing their technologies.
MState has already invested in its first startup, Blockdaemon, which helps companies roll out blockchain applications faster by letting them deploy and manage network nodes.
According to MState, the company may also accelerate other technologies, such as artificial intelligence and quantum computing soon.