It requests five percent equity—or five percent of capital—and in return promises to “do everything to make you succeed”, and offers “access to the best blockchain ecosystem in Europe.” The Garage promises to help its community with a variety of tasks, including product, engineering, press relations and marketing, and gives entrepreneurs up to 60% equity in companies that it’s developed in-house.
“We copy and paste The Family’s model, which means that it’s built on trust. We take five percent of equity after six months if the startup and The Garage are happy,” said Damien Daübe, the director of The Garage.
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The Garage wants to help up to 25 startups per year, and is focusing on insurance, finance, infrastructure, retail, public administration, transportation, warehousing, arts and entertainment and health care. All takes place in a shiny, five story glass townhouse.
Starchain has a history of investing in successful projects. It’s previously invested in the crypto exchange Coinbase, the quant trading platform Numerai, and DeFi platform, Maker.