Binance Labs Launches Season 7 of Incubation Program for Web3 Innovators

Binance Labs invites early-stage Web3 founders to apply for Season 7 of its incubation program, offering dedicated mentoring and resources.

Binance Labs, the venture capital and innovation arm of global cryptocurrency exchange Binance, has officially announced the opening of applications for the seventh season of its highly anticipated incubation program. The initiative seeks to foster innovation in the Web3 space by supporting early-stage startups focused on blockchain and decentralized technology development.

The program provides selected founders with a unique opportunity to receive direct mentorship from the Binance Labs Investment team and utilize the extensive resources available in the Binance ecosystem. As the crypto and blockchain industry continues to develop at a rapid pace, Binance Labs aims to tailor its incubation program to meet the dynamic needs of Web3 entrepreneurs.

With applications due by April 15, 2024, the program is set to begin in early May and will run for two months. The selection process is competitive, with Season 6 admitting only 3% of applicants, demonstrating the high standards and rigorous criteria maintained by the incubator.

The incubation program is not only a gateway to Binance’s resources, but also a platform for innovative projects to gain visibility and traction. Season 6 saw 12 project teams spanning DeFi, Infrastructure and AI, with 7 standout teams receiving investment from Binance Labs at the end of the season.

Binance Labs’ success is evident in its growth, with a portfolio now worth over $10 billion spanning 250 projects across six continents. This impressive track record has demonstrated an ROI of over 14x, and the incubation program has contributed significantly to this achievement.

For Season 7, Binance Labs issued a request for startups (RFS) in various areas of interest, including modular blockchains, decentralized internet services (DePIN), AI infrastructure, Bitcoin infrastructure, innovative DeFi products and applications, AI-powered dapps, and fully on-chain games, among others.

It is important to note that admission to the Labs Incubation Program does not guarantee investment from Binance Labs. Investment decisions are made separately and announced after the program.

Application review and founder interviews will be ongoing, with accepted projects officially notified by email. Those interested in applying can do so via the Binance website, where further details and an application form are available.

Image source: Shutterstock

Leave a Comment