ICONLOOP Signs Agreement with the International Telecommunication Union (ITU) to Cooperate on Developing a Blockchain-Based Smart Incubator Program

ICONLOOP Signs Agreement with the International Telecommunication Union (ITU) to Cooperate on Developing a Blockchain-Based Smart Incubator Program

The ITU Smart Incubator Program was launched in September 2018 to nurture early-stage technology startups in three focus areas — artificial intelligence (AI), blockchain, and the Internet of Things (IoT) — and to provide them with funding and expert mentoring. Recognized for its blockchain capabilities, ICONLOOP has been selected under this agreement as a Knowledge Partner for the program's blockchain track.

Building on pilot projects with the ITU, ICONLOOP plans to support the growth and business expansion of startups in developing countries in Africa as a first priority, across three areas: ▲ transferring blockchain technology know-how ▲ business development ▲ networking. In particular, as part of the incubation program, it will help startups raise their profile and secure investment through large-scale blockchain events and marketing.

"Blockchain technology looks set to become an important opportunity for international organizations, countries, and companies to work together on the many socioeconomic challenges facing developing countries, including energy, agriculture, and financial access," said ICONLOOP CEO JH Kim. "With this agreement, ICON will pursue not only business and technology cooperation across borders to bring blockchain into the mainstream, but also the creation of social value through blockchain."

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