New York City’s prestigious Columbia University is involved in backing a pair of new blockchain accelerator programs alongside tech giant IBM.

The corresponding accelerator projects will look to help local cryptocurrency startups that want to get their blockchain off the ground. They will help with guidance in the form of mentorship from industry professionals as well as networking with investors.

“The possibilities presented by blockchain technology are seemingly endless, and we are seeing strong dedication by technical talent to build game-changing applications,” David Post, the managing director of IBM Blockchain Accelerator said in a company press release. “What is also needed to truly bring about this sea change is the right technology and expertise which is why IBM is working with Columbia to help give these early- and mid-stage founders a way to build enterprise-grade networks that can move blockchain innovation forward.”

The blockchain accelerator program will focus on 10 startups in each cohort and look to refine their specialties and focuses while getting resources from the existing infrastructures that both IBM and Columbia maintain.

“Columbia University has successfully launched several technology accelerators in New York City, but this our first in partnership with a corporation that is a clear industry leader in the field,” said Satish Rao, the executive director of Columbia Blockchain Launch Accelerator. “Early- and late-stage teams will undoubtedly benefit from IBM’s technology resources, expertise and established network coupled with Columbia’s ground-breaking research and talent in blockchain and data transparency, all while benefiting from rapidly growing NYC blockchain communities.”

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