Binance Labs is a project to nurture, invest in, and develop blockchain and cryptocurrency businesses, initiatives, and communities, as well as a social impact fund.
What Is Binance Labs?
Binance Labs empowers sustainable blockchain entrepreneurs, companies, and communities, as well as provides funding to industry projects that contribute to the overall growth of the blockchain ecosystem.
It is dedicated to assisting technological teams that have a positive influence on the crypto sector and help to create the decentralized web.
Binance Labs announces submissions for its Incubation Program every year, which highlights the most innovative blockchain projects from all over the world. The incubation program nominees propose creative ideas to boost crypto acceptance throughout the world. These ideas may be anything, from projects on the Binance Smart Chain and DeFi networks to trading infrastructure.
Binance Labs is one of the best platforms for blockchain startups and projects to find their product-market fit while also gaining a competitive advantage, thanks to the platform’s diverse set of resources. These include:
Start-up Capital
Participants in the Binance incubator program are offered seed financing, which acts as an early capital and traction for entrepreneurs and allows them to shift their focus solely on developing their business. Accepted projects might be valued at up to $3 million.
Mentoring
Entrepreneurs get assistance right from the start to navigate and establish strong relationships inside the Binance ecosystem. They are connected with business executives from Binance who have knowledge of a wide variety of products and aspects, ranging from tokenomics and blockchain architecture tech to startup operations.
A Large Network
Startups are exposed to Binance’s wide network of industry professionals, allowing them to make valuable contacts that may help them in their blockchain journey.
All-round Assistance
The entrepreneurs that are enrolled in the Binance labs incubation program get full assistance on all company matters and various aspects of their operations, such as development of products/services, regulatory/legal guidance, hiring, technical execution, funding, marketing/PR, and so on.
Binance has acknowledged high-potential blockchain innovators and teams across the world during the last two years of the Binance Labs Incubation Program. Leading investors and worldwide funds have expressed interest in the portfolio of companies that are enrolled in the Binance Incubation program, with several of them serving as mentors and advisers to the incubation participants.
Through product releases and major financing rounds, startups that have graduated from the program have taken significant efforts toward developing the Bitcoin ecosystem and boosting acceptance of the cryptocurrency on a global scale. Here are some success stories of the Binance incubation program:
Cere Network
It is a decentralized data and financial cloud platform for enterprises. Cere Network has concluded its Republic public token sale, securing full subscriptions and over $26 million in investment pledges in under 35 minutes.
Perpetual Protocol
It is the creator of a digitized liquidity pool that is generated algorithmically and allows markets with no makers to have liquidity. The PERP cryptocurrency has a market capitalization of $162 million.
The Marlin Protocol
It is a layer-0 open protocol that enables low-latency block multicast, mesh networks, and anonymity networks by providing a high-performance customizable network architecture. The POND coin has a market capitalization of $45 million.
To apply for the Binance Incubation 2021 program, please click here.
