In a statement, the company said the initiative, known as IR Ventures, had attracted tenants such as the Australian Digital Commerce Association, social enterprise blockchain firm Genereos and private investment company Spectre Capital.
Independent Reserve chief executive Adrian Przelozny said: “When we founded Independent Reserve in 2013, the blockchain ecosystem in Australia was non-existent; we knew something had to change.
"We had a vision of helping accelerate blockchain innovation in Australia which underlines our core purpose at Independent Reserve – helping foster a vibrant and thriving community behind blockchain entrepreneurship and innovation.
“IR Ventures extends on that vision and our commitment of working towards one common goal: developing our local blockchain ecosystem and strengthening Sydney’s credentials as a regional hub for blockchain innovation.”
Apart from Przelozny, other mentors who are involved with IR Ventures are Mike Bacina of law firm Piper Alderman, Martin Rogers of venture capital firm KTM Ventures, research and development adviser Nick Falzon of PKF, and Paul Kang, co-founder of application security start-up Entersoft.
IR Ventures aims to invest in, and support, a maximum of 24 Australians firms in the early stages of commercialisation. Those who are building blockchain and fintech solutions will also be considered.
Independent Reserve director and KTM Ventures Innovation Fund chief investment officer Martin Rogers said more needed to be done to help encourage Australia’s gifted and talented blockchain entrepreneurs and help them grow.
“Every now and again you get to work with an amazing company and this is Independent Reserve.The founders have competently delivered for customers a real-world exchange implementation of blockchain technology as a main architecture underpinning cryptocurrencies,” he said.
“IR Ventures is the next leg of the journey allowing for the iterative breed of start-ups to join on the success of Independent Reserve. We are honoured at KTM Ventures to be part of the journey and look forward to the next implementations of innovation.”