Singaporean technological company BCB Blockchain has forged a partnership with a branch of the Philippines’ Department of Science and Technology (DOST) in a bid to accelerate the development of smart cities in the region.

Specifically, on November 23, BCB Blockchain contributed an amount of  $300,000 as financial aid for the development of incubators and startup accelerators, based in the Philippines, by agreeing on a memorandum of agreement (MoA) with the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEETRD).

The joint initiative particularly aims at accelerating local startups and nurturing talents, with the primary field of work being the development of smart city projects and their applications. 

Moreover, the firm has reportedly formed collaboration with numerous educational institutions in the region, in an attempt to equip them with its knowledge in the field and contributions to research and development, promotional activities, hackathons, collaborative endeavors, along with a wide array of projects to further the growth of smart city or blockchain. 

“By providing DOST, universities and TBIs the resources and technical knowledge that BCB Blockchain has, we expect them to deepen their competencies in the area of designing and developing applications and projects for smart cities. We will guide and provide them the access to hands-on workshops, funding, materials, events and technical support.” Douglas Gan, head of BCB Blockchain, shared his remarks regarding the announcement.