BELFAST start-up Asset Reality has been named as one of 12 firms accepted into the 2021 Techstars London accelerator programme.
The company, founded by Aidan Larkin, is developing an ‘eBay style’ platform for managing and selling cryptocurrency assets seized by government and law enforcement agencies.
Mr Larkin, who specialised in the sale of global criminal assets at Wilsons Auctions, said his new company is line for a $1 million investment on the back of the acceptance into the world’s largest tech accelerator.
Techstars currently operates 47 growth accelerator programmes in 33 cities around the world.
The company founder said the programme will accelerate the start-up’s ability to access funding to expand and create new jobs.
“The new normal of hybrid working allows us to draw on a wider talent pool of local and international recruits for our new offices in Belfast, Cardiff, Dublin and London as well as aiding our expansion into the US,” said Mr Larkin.
“We are really excited for the future considering the company only launched this idea from a spare bedroom 18 months ago just as the pandemic started.”
The Belfast man said the business offers a solution for governments to deal with the complex assets seized from criminals, for example cryptocurrency.
“Our platform will allow enforcement agencies around the world to recover, manage and sell their assets in one single platform.
“The money raised from proceeds of crime sales gives law enforcement budgets to keep us safe, pays back victims of crime and funds charities and good causes,” he added.
“Literally billions of pounds every year is wasted through inefficient systems and processes when dealing with complex seized assets.
“To realise the scale of the opportunity, we have we look to our crypto partner Chainalysis, who also started off in Techstars in 2015, as a small start-up and have now grown to a $4 billion dollar company,” said Mr Larkin.
