Binance Labs is Offering $120,000 Funding and Incubation to African Blockchain Startups
Binance Labs is calling for applications from African blockchain and cryptocurrency startups looking to receive funding and incubation in its 10 week incubation program.
As the venture arm of cryptocurrency exchange platform, Binance, Binance Labs is an initiative that hunts for blockchain projects and solutions across the continent to invest in.
And through its incubation program (which is currently in its second season), the venture arm is able to incubate and invest in blockchain and cryptocurrency entrepreneurs. Since inception, the lab has invested in 21 blockchain startups around the world.
“Binance Labs is the best place for blockchain projects to build their projects and achieve product-market fit. With the African blockchain ecosystem still in it’s nascent stage, this offers tremendous value to African projects, as we are able to plug them into the top one per cent of mentors, founders, investors, and blockchain-focused service providers from the global Binance network.”
Binance Labs Director, Yele Bademosi.
The 10-week incubation program offers at least US$120,000 equity funding and mentorship to entrepreneurs. The program also connects startups to its vast network of industry leaders as well as providing support for startup formation, regulatory/legal advice, recruiting, technical execution, fundraising, and marketing/PR.
This 2nd Season of Binance Labs Incubation Program will take place in 5 Continents simultaneously, with Lagos chosen as the centre for Africa. Selected teams would spend 7 weeks together (March 25th – May 3rd) during the Regional phase.
After the completion of the first phase, all teams in different chapters will gather in Singapore for the last 3 weeks between May 4th – May 31st.
Applications are currently open till 11:59 pm on Wednesday, January 30. Interested startups can click here to apply.
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