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SparkLabs is launching a cybersecurity and blockchain accelerator program in the US

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Investment firm SparkLabs has run accelerator programs across APAC, now it has announced its first that’ll be based on U.S. soil and it’s a cybersecurity and blockchain program that’ll be located in Washington, D.C. from next year.

The program will be led by former Startup Grind COO Brian Park and Mike Bott, who is ex-managing director of The Brandery accelerator. Advisors signed on to work with the batch of companies includes top names like Microsoft’s former chief software architect Ray Ozzie, Litecoin creator Charlie Lee, LinkedIn co-founder Eric Ly and Rich DeMillo, who was the first CTO of HP.

Named “SparkLabs Cybersecurity + Blockchain,” the program will kick off with an inaugural batch of companies in March next year, with applications opening accepted from January. SparkLabs co-founder and partner Bernard Moon told TechCrunch in an interview that the plan is to run the program for four months with two intakes per year.

It’ll use SparkLabs’ standard investment approach that sees selected companies offered $50,000 for up to six percent equity. That’s variable on a case-by-case basis — for example for those that have raised significant early funding at a large valuation — but Moon said that the priority for the security and blockchain program is to seek out companies that are bootstrapped or at least have not raised much.

Moon said that the general focus is not on cryptocurrency but instead enterprise-led technologies. So, on the blockchain side, that might mean protocols and other infrastructure layer plays, although Moon said he does believe that there is scope for more consumer companies, too.

SparkLabs has a dedicated blockchain fund — SparkChain Capital — but neither that fund nor its principal, Stellar founder Joyce Kim, is directly involved in the accelerator. That’s very deliberate, Moon said, because SparkLabs wants to grow its network in the blockchain space outside of SparkChain, although he did explain that the program will be “a vetted deal source” for the fund, so graduates could potentially look it to when they want follow-on funding.

Outside of SparkChain Capital, SparkLabs is active in crypto, primarily through its presence in Asia — especially Korea where it operates its first accelerator program. The company is even tokenizing two of its accelerators — a six month IOT-focused initiative in Korean smart city Songdo and Cultiv8, an accelerator for agriculture and food tech in Australia — although Moon said that the project has been delayed but remains on track to happen soon. Investment-wise, it has backed over 10 blockchain companies and a dozen in the cybersecurity space.

The cybersecurity and blockchain program has an interesting story. Park and Bott originally spun out AOL’s Fishbowl Labs accelerator program but after a discussion with Moon for advice, the pair ended up signing up with SparkLabs. That’s a move that Moon believes will help bring a global perspective through SparkLabs’ presence in the rest of the world — it has six other programs globally — and marrying that with what’s happening in the U.S.

“We want to foster and grow a robust ecosystem in both cybersecurity and distributed ledger technologies.  We believe these two verticals are synergetic by nature, but we will seek innovations beyond the overlap,” Park said in a statement

“It’s so early within this space that we are only seeing the Friendsters and MySpaces of the blockchain world.  The next Facebooks and Twitters will be developed over the next several years,” he added.

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