Coinbase Ventures to Support University of Arkansas’ Bounds Accelerator to Support Emerging Tech Startups Across the Retail Value Chain

Coinbase is working to update the financial system that was built over 100 years ago by using crypto to provide people with more economic freedom and opportunity. To advance this purpose, Coinbase is building the most trusted crypto products and services, and supporting other builders to bring over 1B people into crypto. 

One of the many ways that Coinbase directly supports the cryptoeconomy is through its investment arm, Coinbase Ventures. Coinbase Ventures invests in exceptional founders who share Coinbase's mission of creating more economic freedom for the world. Today, Coinbase Ventures and Haun Ventures are excited to announce support for the Bounds Accelerator, an Arkansas-based emerging technology startup accelerator launched by the University of Arkansas Office of Entrepreneurship and Innovation and Cartwheel Studio. The Bounds Accelerator, leveraging emerging technologies like blockchain, AI, and AR/VR, will unite entrepreneurs, industry leaders, tech experts, and startups to advance digital transformation in the retail value chain.

Arkansas has a history and culture of entrepreneurship, including initiatives in Northwest Arkansas spurred by the Walton Family Foundation that connect entrepreneurs with capital and offer technical assistance and business support. Blockchain technology allows for entrepreneurship to be encouraged across a wide variety of geographic zones and decentralized computing meeting Arkansas entrepreneurship is a powerful combination when it comes to being a catalyst for new ideas, new companies and new jobs.

The 16-week accelerator program is accepting applications from startups with a US based location or representative until November 3, 2023. The program begins on January 8, 2024 and is bookended by an in-person orientation and demo day event in Bentonville, with weekly remote learning and mentoring sessions. The Public-Private partnership as a function of the role the University of Arkansas is playing to help position Arkansas for the next generation of the internet.

Shan Aggarwal, Vice President and Head of Corporate Development and Ventures at Coinbase says, “Arkansas has historically been a key player in the retail value chain. We are excited to support the Bounds Accelerator teams as they harness blockchain technology to foster innovation in this crucial sector. We also look forward to considering potential investments from program graduates in the future."

Coinbase recently hosted Stand With Crypto Day, where 40+ founders from across the US flew to DC to advocate for forward-looking crypto regulation. Additionally, Coinbase has hosted events in states such as Ohio and New York to highlight the state level economic impact of crypto. Support for the larger crypto ecosystem is essential to Coinbase’s mission to advance economic freedom through crypto and blockchain innovations. 

Arkansas benefits from leadership from a robust Congressional Delegation, including Senator Boozman, and Representative French Hill, who have been leading voices on innovation and importance of keeping technology and the economic benefits in the US and specifically Arkansas.

Tomicah Tillemann, Chief Policy Officer at Haun Ventures, added, "Arkansas is at the confluence of a number of forces shaping the landscape around blockchain technology and digital assets. The state is home to innovative entrepreneurs, major corporations with global reach, and policymakers including Rep. French Hill and Sen. John Boozman, both of whom have taken an interest in digital asset technology. All of this makes Arkansas a great place to work with the startup community."

This important partnership will bring technical and financial support to innovators outside of typical “tech bubbles” like New York and California, and reflects the significant economic impact of crypto and blockchain across the US.  We are excited to support crypto founders in innovative states such as Arkansas that are forward looking when it comes to the potential for disruptive technology.