University of Pennsylvania to Launch Accelerator for Cryptocurrency Startups – Bits Media

The Stevens Center for Finance Innovation at the University of Pennsylvania to Launch the Cypher Accelerator for Startup Investments in February, working with blockchain technology.

How
local media report, each semester in a three-month program will take part from 10 to 15 cryptocurrency startups. Project developers will be able to attend training seminars and interact with cryptocurrency enthusiasts, like Mark Cuban (Mark Cuban) and Tim Draper (Tim Draper). Project applications for participation in the program are accepted until 30 November. It will start in February 2022 year and will last until the beginning of May.

The program will be divided into three stages: consultations with industry leaders, development of a business model and investment plan, as well as demonstrating the project to investors to obtain financing. Managing Director of the Center for Innovation Sarah Hammer (Sarah Hammer) expressed hope, that Cypher Accelerator will accelerate the implementation of blockchain and cryptocurrencies in financial processes. According to Hammer, Startups, who will become participants in the Cypher Accelerator, will develop blockchain-based solutions not only for the financial industry, but also for the healthcare sector, insurance and agriculture.

“Part of our mission is to support the development of blockchain, revealing its possibilities for students and teachers of the University of Pennsylvania", – Hammer said.

The Stevens Innovation Center opened in March 2019 of the year. His mission is to study blockchain and its use cases in the financial industry. University of Pennsylvania faculty say, that thanks to the new initiative, students will be able to study leading trends in the field of blockchain and financial technologies through the example of specific projects.

Rishin Sharma, head of the blockchain laboratory at the Wharton School of Business at the University of Pennsylvania (Rishin Sharma) said, that the Cypher Accelerator will open new career opportunities for students.

"I think, that there are too many creative and smart people at our university, who should not become ordinary employees of large banks. If students become interested in innovation, which could bring dramatic changes to the financial industry, "The University of Pennsylvania will truly change the financial system of the 21st century.", - said Sharma.

The possibilities of blockchain are being studied not only at foreign universities. This year the Moscow Institute of Physics and Technology (MIPT) has already issued diplomas to the first graduates of the master's program in blockchain.