Despite the fact that there are multiple ways to raise funds in the crypto space, building a project is much more than just that.
It can be challenging for a new idea to gain the legs it needs to survive and grow into a fully-fledged solution for some of the industry’s most plaguing problems.
That’s when incubators are coming into play.
Over the last three years, across five continents and in 25 countries, Binance Labs has continued to seek out blockchain entrepreneurs, projects and communities that may be able to solve and improve on the technology available today. To provide support and lead the future of blockchain, the team has continued to provide financing, mentorship and incubation for the most promising projects, helping them reach their full potential.
The Incubation Program ran two seasons, supporting successful businesses, including Polygon (MATIC), an Ethereum scaling aggregator and Dune Analytics, a free analytics solution built on Ethereum (ETH), and more.
Looking forward, Bill Chin, the head of Binance Labs Fund, shares,
“Through the Incubation Program, we hope to help the future industry key players go through easier ways of development, and I am sure our team and the mentors can also be inspired by the fresh and new insights of the talented founders and teams; all around the world.”
A deep dive into the incubation program
Looking closer at the Incubation Program itself, projects will follow an eight-week timeline. Over these eight weeks, teams can take full advantage of the Binance Labs ecosystem, focusing on mentorship from successful portfolio companies, potential investors and industry influencers.
Binance Labs also provides project support in value-added services, including public relations, marketing and fundraising advice, in addition to weekly fireside chat sessions with mentors and opportunities to pitch to interested investors.
Following these eight weeks of the Incubation Program, Binance Labs will hold a demo day for each of the nine projects. Each project will then demo and pitch their projects to find partners interested in collaborating with them.
Currently, nine incubation projects have been selected from the Fall 2021 Edition of the Binance Incubation Program, each representing a different part of the world. The projects are:
Block Ape Scissors: A play-to-earn game built on the Binance Smart Chain (BSC) that brings together NFTs and DeFi into gaming, with several rewarding opportunities for users.
Tranching Protocol: A yield optimization and DeFi hedging protocol that implements tranching for yield farming.
Bird: A decentralized oracle that will provide developers with plug-and-play analytics offerings across next-generation web platforms.
Raydius: A bridge solution for creating a more connected blockchain ecosystem.
GAT Network: A gaming web that contains several interconnecting gaming and NFT trading projects, each launched on the Binance Smart Chain (BSC).
Mint Club: A platform for smart token building that eliminates the need for coding.
Copycat Finance: A decentralized trading and farming platform built on the Binance Smart Chain, providing social trading opportunities and high yield offers.
SkyArk Studio: A blockchain-based gaming studio based in Singapore.
Wombat: A DeFi and Stablecoin project aimed at creating a hyper-efficient multi-chain stable swap that will operate on Binance Smart Chain and beyond.
With reference to these participating projects, the Binance Labs investment director, Ken Li, shares, “all of the incubation projects have strengths in what Labs has been looking into,” adding to the excitement for what these projects will bring.
Those who are interested in Season 4 of the Incubation Program can apply here. Season 4 launches in March of 2022.
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