Binance Labs Opens Season 7 Applications for Incubation Program

Key Insights: 

• Binance Labs' Incubation Program offers mentorship and resources to advance Web3 innovation.
• Season 7 focuses on blockchain startups, with a competitive 3% acceptance rate.
• Program alumni benefit from Binance's extensive network and see significant investment growth.

Binance Labs,the venture capital and innovation arm of the global cryptocurrency exchange Binance, is once again inviting early-stage startups to join its Incubation Program.

The program's seventh season aims to foster innovation in the Web3 space by supporting companies focused on blockchain and decentralized technology development.

At the core of this initiative is the opportunity for selected founders to benefit from direct mentorship provided by the Binance Labs Investment team.

Additionally, participants will gain access to the extensive resources available within the Binance network, providing them with a strong foundation for growth and success.

Binance Labs recognizes the importance of tailoring its incubation curriculum to meet the needs of Web3 entrepreneurs. The program will equip participants with the knowledge and skills necessary to thrive.

Applications for Season 7 are open until April 15, 2024, with the program scheduled to start in early May and run for two months.

The selection process is highly competitive, with only 3% of applicants accepted during Season 6. This statistic underscores the high standards and precise criteria maintained by the incubator.

The Incubation Program is a gateway to Binance's resources and a platform for innovative projects to gain visibility and traction.

Season 6 led to the emergence of 12 project teams spanning DeFi, infrastructure, and AI, with 7 standout teams ultimately receiving investment from Binance Labs.

Binance Labs' success is evident in its substantial growth, boasting a portfolio worth over $10 billion.This portfolio covers 250 projects across six continents and demonstrates a return on investment rate of over 14X.

The Incubation Program has played a crucial role in contributing to this achievement.For Season 7, Binance Labs has 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 apps, fully on-chain games.

This diverse range of topics reflects the broad scope of innovation within Web3 and ensures that startups working on advanced technologies have the opportunity to participate.

However, It's important to note that admission into the Labs Incubation Program does not guarantee investment from Binance Labs. Investment decisions are made separately and announced post-program

The application review and founder interviews will be conducted on a rolling basis, with admitted projects being officially notified via email. Those interested in applying can do so through the Binance website, where further details and the application form are available.

Binance Labs' Incubation Program continues to be a guide of support for early-stage startups in the crypto and blockchain space.By providing mentorship, resources, and opportunities for funding, Binance Labs is helping to drive forward the development of innovative technologies that have the potential to shape the future of finance and beyond.