One of the biggest challenges for companies looking to start out on their own can be a lack of demand for a product or service and this is what the Block Venture Studio has been created to solve.
Venture studios are organisations which help founders build start-ups based on what corporates need. They help businesses come up with an initial idea which will suit the market and assist with product development.
This differs from incubators which are meant for entrepreneurs who already have an idea for a business but need support in getting it off the ground.
“The start-up itself is built for the corporate so the corporate is the shareholder, the corporate is the one that’s funding it,” Ari Kuqi, Director of Research and Development at Block Venture Studio, explains to CoinGeek’s Charles Miller at the company’s launch event in London.
The studio is the new division of the Satoshi Block Dojo, the successful global blockchain incubator which has taken the Bitcoin SV world by storm since it was set up in 2021 by Craig Massey.
And like the Block Dojo, it recognises the power of using Bitcoin SV to build out solutions. “We think that Bitcoin SV is the only blockchain that actually offers the utility that are promised by so many blockchains,” says Ari.
Charles meets some of the corporates that the Block Venture Studio are engaging with about potential solutions, including Kim Dingler, CCO at ITV Studios Entertainment, who is exploring ways that world-famous brands can be monetised using blockchain technology.
She tells him about two projects the channel has been working on recently; a partnership between culinary reality show ‘Hell’s Kitchen’ and The Sandbox Metaverse and NFT artwork based on the classic TV show ‘Thunderbirds’.
Another interested executive is Rose Tighe from Sky Labs, who is looking at blockchain technology with a view to beefing up the company’s approach to piracy and copyright protection. And while she’s excited about the opportunities presented by blockchain technology, she’s also aware of the challenges that come with it.
“I will say loudly and clearly that a lot of consumers are already struggling with everyday technology within their homes and what I would hope is that whatever we do is usable and accessible by everybody,” she says.
Rose has come to the right place to find a simple solution that suits her organisation, as the Block Venture Studio has been built for exactly this purpose with products designed to be as functional as possible, showcasing the simplicity of blockchain technology.
“It should be about actually providing value instead of some random blockchain that’s more used for marketing or just to make shareholders happy that you’re innovating in blockchain,” says Ari Kuqi.
Overall, the launch event was an exciting chance for major corporates to discuss their needs with the Block Venture Studio and network with budding entrepreneurs, and we look forward to seeing the fruits of this new venture.