Monday, June 20, 2016

20/6/16: Aid:Tech in Techstars 2016

So it is now official: AID:tech ( is one of 11 companies selected for the Techstars 2016 programme:

AID:tech is the largest blockchain player in the market for providing payments facilitation, data collection and analytics; and assets / supply chain management company for international NGOs and State organisations providing aid and social welfare supports around the world. The company has fully-developed, field-tested suite of solutions allowing it to assist NGOs and governments in:

  • Reducing risk of fraud in international aid and social welfare payments by digitalising their payments processes;
  • Transmit a payment to the end recipient of aid, instantaneously verifying identity of the recipient, receipt of funds, and confirming the use of funds in the case of aid-related purchases
  • Substantially (by a factor of up to 3 times) reduce the cost currently charged by less secure platforms that generally offer lower degree of tractability of transactions.

Today there is a lack of transparency and accountability in the distribution of funds by NGO's and governments.

Of the $360bn transferred each year by NGO's, only $90bn is currently delivered via transparent systems and these systems are extremely expensive to administer. By utilising private blockchain technology, AID:tech enables all international aid to be accounted for, including the distribution of assets such as medicine, food and other essentials. The platform also offers add-ons such as smart contracts and instant micro-insurance, as well as advanced data analytics that help organisations to better plan and execute aid deliveries.

AID:tech is finalist in the Irish Times Innovation Awards ( and and is shortlisted for the ‘Best Humanitarian Tech Startup’ for The Europas European Tech Startup Awards

Disclosure: I am very proud of being involved with the company as an adviser and shareholder.
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