A former senior UBS banker has launched the first startup incubator for blockchain technology. A related initiative will follow soon, as finews.ch discovered.
Daniel Gasteiger is no stranger to complex projects. Until last year he headed the office of UBS president Axel Weber, and was responsible for keeping everything running smoothly for the highest strategist of the largest Swiss bank.
In his new venture, things are also moving ahead according to plan. Together with the property specialist Daniel Grassinger (pictured below) he has set up Switzerland’s first blockchain incubator, Zurich-based Nexussquared.
Nexussquared aims to establish Switzerland as the leading European hub for revolutionary blockchain technology. Zurich is at the heart of this vision, set to become the «Greater Zurich Blockchain Area», as reported exclusively by finews.ch.
Virtual Mentoring
The first venture of Gasteiger and Grassinger is ready for kick-off, Nexussquared announced Wednesday. In cooperation with the London startup accelerator Startupbootcamp, the first Nexuslab programme begins April 24, providing close mentoring to selected young companies from all over Europe in the development of their business ideas.
The 10 startups that were selected from a pool of 260 candidates, come from eight different countries:
- Bittunes (Britain)
- Doqum.io (Switzerland)
- First Wallet (Estonia)
- Magic in Bits (Israel)
- Paymeabit (Italy)
- ProofOfYou (Estonia)
- Taqanu Bank (Norway)
- SolarChange (Israel)
- WONE (Finland)
- Yope (Germany)
Unlike the fintech startup accelerators Fusion in Geneva, and F10 and Kickstart Accelerator in Zurich, the mentoring programme run by Nexussquared is almost exclusively virtual. Mentors and blockchain companies only meet face-to-face at selected meetings in European cities.
«The virtual concept is going down well,» Gasteiger told finews.ch. It means the entrepreneurs outside Switzerland don’t have to disrupt their lives to take part, he said. At the beginning of July, the 10 startups will present their business models to investors in Zurich.
Too Much Empty Talk
Nexussquared has its next project in place for autumn, Gasteiger explained. Nexusventures, run as a separate entity, will launch its own venture capital fund for blockchain firms. The vehicle will take a share in the firms chosen for the Nexuslab Incubator.
This is significant because fintech firms complain there is a general lack of investors in Switzerland. Gasteiger finds this unfair: «There is much too much empty talk in this country.»
Supporting Its Own Business Model
According to the former UBS banker, there are investors who are interested in getting on board with blockchain technology. Nexussquared wants to tap this potential – while also supporting its own business model.
