BITWAGE IS AWARDED BY THE GOVERNMENT OF FRANCE.
Bitcoin Bitwage a start-up in Silicon Valley launched in May 2014 in charge of processing payrolls driven by Blockchain, Ticket Tech has won the French competition and qualified to join one of the main incubators of France.
The French Tech Ticket is a program designed for entrepreneurs around the world who want to create their startups in France. The program partners among others, are Bpifrance, Business France, Marie De Paris and French Tech, a part of the French government that helps develop French technology either by helping French entrepreneurs to internationalize or by choosing new companies with high Growth potential for hatching in France.
Jonathan Chester, Bitwage president said that as the winner of the program, your company qualifies for a grant from the French government, in addition to an influx of funds. In addition, they will be taken to France for a year to boost European operations for the company.
“France is particularly interesting for us as there is a lot of commerce that flows between the French speaking northern African countries, such as Algeria, Chad, Morocco, Niger, Senegal and Cameroon. Exploration companies out of France need to pay workers and larger companies need to send vendor payments. We are able to leverage blockchain technology to make these business disbursements more efficient and this will help to open us into this market,” Chester said.
The FTT grants funding to each winning project in the amount of 57,000 euros, broken down between eligible expenditure items as follows:
External costs spenton the project (feasibility studies, fees of service providers, etc.) to a maximum of 25,000 m to €with receipts;
Personal expenses up to amaximum of 20,000 m euros without receipts;
The cost of housing in the incubator project partners, equivalent to € 12,000 by signing the agreement signed between the incubator and the main winner.
The first payment, corresponding to 70% of the total amount of the aid is paid once the financing agreement has been signed and the preconditions have been fulfilled. Under the contract signed, Bitwage will successfully join one of the 41 leading French incubators to disseminate its activity.
The announcement was made by the French consulate through the social network Twitter:
Bitwage is a provider of remote start-up job placement solutions and management wages for foreign workers. The company has been recognized for its innovative billing, team salaries and its employer products for freelancers, remote contractors, employees and employers. Bitwage provides a collection account in the United States/Eurozone/UK to receive client funds and delivers funds through Blockchain to bank accounts.
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