BlockMark technologies Secures Grant Funding

27 May 2021

Published in: Cohort successes

BlockMark Technologies has developed an enterprise-grade blockchain registry that allows companies to issue, manage and verify certificates and accreditations

BlockMark Technologies has developed an enterprise-grade blockchain registry that allows companies to issue, manage and verify certificates and accreditations in a secure manner, validating qualifications and protecting intellectual property.

The SOFI programme is a collaboration between Innovate UK, Newton Fund and The Technology and Innovation Agency (TIA) of South Africa to co-create innovations specifically to serve low-income communities in South Africa’s townships and rural economies. The project will allow BlockMark Technologies to develop and test its Registry service for certifying physical objects, such as premium products, where quality and proof of origin is primary concern.

Dr Adrian Burden, co-founder and CTO at BlockMark Technologies, said: “We are delighted to have been selected as one of just five projects to receive funding from the SOFI programme.

“This funding will enable us to work with Durban-based technology start up Sucrochem to certify the provenance and secure the supply chain of South African products into the UK and Europe.

“We will be working with the team to develop and use a combination of innovative blockchain technology, labelling technologies, and digital certificates to track the chain of custody, reduce fraud and increase transparency for customers.”

In the autumn of 2020, the SOFI programme of entrepreneurship events hosted by the Liminal agency brought together 38 entrepreneurs from the UK and South Africa for a 6 week programme of exploration and information gathering. In February 2021 just 5 projects were selected for further funded development, including BlockMark Techologies’ project.

Linda Smith, founder and CEO of BetaDen, added: “We’re incredibly proud of the progress BlockMark Technologies has made since joining the accelerator. Their Registry product has tremendous potential to streamline the authenticity verification process in the internet age, reducing the risk of fraud across a variety of sectors, and we’re delighted they’re now able to bring this technology to an international market.”