Binance Labs Invites Web3 Founders to Apply for Season 7 Incubation Program
Binance Labs, the venture capital and innovation arm of Binance, is now accepting applications for the seventh season of its Incubation Program. This program aims to support early-stage startups focused on blockchain and decentralized technology development in the Web3 space.
Unique Opportunity for Web3 Startups
The Incubation Program offers selected founders the chance to receive direct mentorship from the Binance Labs Investment team and access the extensive resources available within the Binance ecosystem. The programโs curriculum is tailored to meet the evolving needs of Web3 entrepreneurs as the crypto and blockchain industry continues to grow.
Competitive Selection Process
Applications for Season 7 must be submitted by April 15, 2024. The program will commence in early May and run for two months. The selection process is highly competitive, with only 3% of applicants accepted for Season 6. This indicates the high standards and rigorous criteria upheld by the incubator.
A Platform for Innovation
The Incubation Program not only provides access to Binanceโs resources but also serves as a platform for innovative projects to gain visibility and traction. In Season 6, 12 project teams focusing on DeFi, infrastructure, and AI participated, with seven standout teams receiving investment from Binance Labs at the conclusion of the season.
Impressive Track Record
Binance Labs has seen significant growth, with a portfolio worth over $10 billion covering 250 projects across six continents. The incubation program has contributed to this success, showcasing a return on investment rate of over 14X.
Request for Startups (RFS)
For Season 7, Binance Labs has issued a Request for Startups (RFS) in several areas of interest, including:
- Modular blockchains
- Decentralized internet services (DePIN)
- AI infrastructure
- Bitcoin infrastructure
- Innovative DeFi products and applications
- AI-powered dapps
- Fully on-chain games
No Guarantee of Investment
Itโs important to note that admission into the Labs Incubation Program does not guarantee investment from Binance Labs. Investment decisions are made separately and announced post-program.
Application Process
The application review and founder interviews will be conducted on a rolling basis. Admitted projects will be notified via email. Interested founders can apply through the Binance website, where they will find further details and the application form.
Hot Take: Empowering Web3 Innovation through Binance Labs Incubation Program
The opening of applications for Season 7 of the Binance Labs Incubation Program marks another exciting opportunity for early-stage Web3 founders to receive mentorship and resources to fuel their innovative projects. With a highly competitive selection process and a track record of successful investments, Binance Labs is well-positioned to support startups in the blockchain and decentralized technology space.
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