JD.com’s new accelerator focuses on blockchain startups

JD.com, one of China’s largest e-commerce companies, is launching a new Beijing-based accelerator program for artificial intelligence and blockchain startups. Called AI Catapult, its first batch includes six companies: Bankorus, CanYa, Bluezelle, Nuggets, Republic Protocol and Devery.

In an announcement, JD.com said startups will work with its operational teams to “test real-world applications of their technologies at scale.” This includes its logistics unit, which recently raised $2.5 billion and claims to run the largest last-mile logistics network in China.

Though Alibaba Group is probably better known outside of China, JD.com is a formidable rival. In 2016, it recorded 658.2 billion RMB, or about $100 billion, in gross merchandise value (JD.com will announce its full-year results for 2017 next month). JD.com and Tencent frequently partner to take on Alibaba, most recently backing several of the same online and offline retail companies, including Vipshop and Better Life. Walmart and JD.com also signed a strategic partnership in 2016 to combine their resources in China.

Read More – Techcrunch


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