Introducing the Binance Labs Incubation Program
Binance Labs introduces a new incubation program to support top early-stage teams with our best resources to help them jump start their best ideas. Are you a BUIDLer? Apply Now!
About half year has passed since Binance Labs started making direct investments with the mission of supporting startups building something critical for the entire ecosystem. As long-term investors and strong believers of crypto, it was a great pleasure engaging with vibrant crypto communities and inspiring founders.
At the same time, we face two big challenges in the ecosystem.
Challenge 1: Crypto “Projects” lack Product/ Market Fit.
Challenge 2: Founders are often distracted from BUIDLing by market hypes.
We cannot blame anyone for the situation. Rather, as strong believers of crypto, Binance Labs would like to refresh the whole point of why and what we are trying to achieve collectively in the ecosystem and suggest an initiative. Because, there is so much to be built and achieved.
Outlook: Disruption has yet to happen and we expect more talent to join the ecosystem.
And as Binance Labs, we have a strong mission.
Mission: Realizing the full potential of Blockchain technologies.
Therefore, we are happy to introduce a new incubation program to help top early-stage teams jump-start their ideas and realize their vision.
What is Binance Labs Incubation Program?
Binance Labs Incubation Program is a 10-Week On-Site program designed to help top early-stage teams deliver something that has strong Product/Market fit.
We are launching the first batch of our program this October. Top Early-Stage Blockchain Startups will gather up in San Francisco, CA for a 10-week Incubation Program.
- Seed Investment: We provide $500K in seed funding (10% Equity/Token).
- Mentorship: We have excellent mentors with both crypto and general startup experiences who will be helping our program founders.
- Network: We connect startups with our vast network of industry leaders in the crypto space and facilitate current and future batch-mates to work closely together during the incubation period.
- Support Services: We have resources to help with startup formation, regulatory/legal advice, recruiting, technical execution, fundraising, marketing/PR and other.
We strive to create the best environment for founders to focus on “BUIDLing”.
What happens during the program?
While designing the program, we deliberated around the balance between the details of the programs and founders’ time. Here’s what the program looks like:
- Mentoring Session
Teams will have 1-on-1 sessions with our great mentors.
2. Weekly Fireside Chat
Guest speakers will come in every week to share their views and experiences that are relevant and helpful for teams.
3. BUIDLers Day
Teams will decide what they will present on BUIDLers Day in the beginning of the program and will have chance to pitch in front of selected investors and strategic partners at the end of the program.
4. Fun stuff!
We believe in facilitating business relationships and cooperation among our teams. On occasions, we will organize fun activities that will help strengthen trust and friendship among founders.
How Can I Participate?
2. Interview: Candidates will be invited for a video interview.
3. Program Launch: Teams will physically be at the program site from Oct. 8, 2018. (Season 1: Oct. 8th — Dec. 14th)
4. BUIDLers Day: Teams will present their products to invited strategic partners and investors at the end of the program on Dec. 14, 2018.
5. This is just the beginning of our journey. BUIDLing The Ecosystem Together.