Many Oregonians across business, educational and technological fields are keen to see their state playing a leading role in the blockchain world. A partnership among various entities is set to launch the Oregon Blockchain Venture Studio in Portland later this month. The studio plans to guide and nurture 20 to 30 different organizations within the next three years. However, the official announcement hasn't been made so far, but it's expected to arrive within the next month.
Digital Agency R/GA and many partners including Nike, Intel, Portland State University and Oregon Health & Science University host the upcoming studio. Smith + Crown, a Blockchain research firm, is also one of the participating partners in hosting the studio.
Up until this point, investors are set to contribute $3 million for each year towards the project. The individuals who are partaken in the studio will get $1,00,000 in venture capital and will be mandated to work in R/GA's Pearl District office. Organizations involved with the studio additionally receive investment dollars from any studio partners potentially.
The thought behind a venture studio is to attempt and straddle the advantages and functionalities of an accelerator, incubator and a venture capital project.
The increasing number of the state's influential figures see the new venture as an approach to drive innovation associated with the technology. Additionally, it's possibly setting up Oregon as a major player in the blockchain world down the road.
One of Oregon Blockchain Venture Partners, Jeff Gaus said that he wants Oregon to be recognized as the blockchain state. He further told to Portland Business Journal about how the "Oregon ethos exactly maps to what is the need for blockchain to work".
What are your thoughts about Oregon's innovation studio? Let us know whether the state can be a big player in the blockchain world or not?