Image credit: Seed germination, Wikimedia

Cofound.it, a startup that provides a blockchain-based platform connecting startups with investors and experts for advice and financing, has selected five startups to join its newly launched Cofound.it Seed program.

Cofoundit SeedThe Cofound.it Seed program is targeted at blockchain startups in the early stages of development. It provides chosen teams with “the opportunity to validate their business idea and raise enough funds to develop their product and team,” according to Jan Isakovic, CEO and co-founder of Cofound.it.

These startups get access to the Cofound.it Priority Pass community earlier in the process for a round of seed funding before the later, full crowdsale.

David Prais, the head of Cofound.it Seed, said:

“We have selected five great startups which stood out as clear contenders to disrupt the status quo of their industries. Through Cofound.it Seed, we hope to give these projects early advice and insight on their product offerings to increase their chance for a successful crowdsale in the future.”

The first five blockchain startups to join the Cofound.it Seed program are:

  • Aversafe, a decentralized credential verification network for employees, employers and educational institutions.
  • Blockie, which is building open source software tools for developers and non-developers to create, run and manage decentralized applications.
  • Legacy, a last will solution that enables individuals create digital time capsules with video or photo memories, smart property, and cryptocurrencies that can be left for loved ones.
  • MediaSifter, a news aggregator that uses blockchain technology to change the way we consume news.
  • UNICO, a startup that creates decentralized digital collectables by linking a piece of digital content, such as images and videos, to a fixed number of access tokens issued on the Ethereum blockchain.

Cofound.it is a platform designed for startups in the blockchain space seeking to create their own token and sell it to investors. The company aims to create a distributed venture capital ecosystem for the blockchain industry.

Cofound.it uses several evaluation criteria to select the most promising startups and teams. In addition, selected projects are audited by Deloitte. At the time of launch, only three projects out of 35 were selected and listed on the platform, the company claims.

Cofound.it plans to launch around ten startups this year and an additional 30 projects expected for 2018.