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Binance Labs shared recently the eight blockchain-related projects it has supported throughout a 10-week on-site Incubation Program — and that have, with this initiative, developed into eight blockchain startups. The program, launched in October 2018, focused on providing guidance, mentorship and resources to each project.

The venture arm of the leading global cryptocurrency exchange Binance developed this program to help entrepreneurs deliver products with a clear product-market fit. More than 500 project teams applied for the Incubation Program — and after deep evaluation eight were selected and granted $500,000 in seed funding (each).

The teams also obtained direct access to a broad range of resources and mentoring.

“We aim to build up a strong blockchain ecosystem and network of BUIDLers around the world. Our first incubation program in San Francisco was an amazing experience [...] [and] we are very excited to expand our program [...] and meet with blockchain projects across five different continents.” — Ella Zhang, head of Binance Labs.

With the conclusion of the program eight new startups are now in the world — of which we highlight Nym, focused on building a secure and private future for the Internet, and Akio Labs, the easiest way to get insights from blockchain data. And seven of the projects shipped products already during the program, which brought paying users on board.

With the success of the first experience Binance Labs shared its plans to host more incubation programs around the world in the future, in addition to San Francisco — namely in Buenos Aires, Singapore, Lagos, Hong Kong and Berlin.

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