Binance has introduced another incubation program with help early-stage startups with the exchange’s resources to help jump-start their ideas.
The Binance Labs Incubation Program is a ten-week on location program intended to enable teams to deliver a product or service with a market fit. It furnishes each venture with $500k in seed financing in return for 10% of their equity. It likewise offers access to mentors from the scene and a network of founders. Furthermore, the program additionally offers help services with the goal that the teams can concentrate just on building their products and services.
The first batch will be held in San Francisco and keeping in mind that the following locations have not been declared yet, the company is said to be especially searching for places in Africa and Asia.
“We’re looking at different cities across the world because blockchain and crypto are international. We see problems and opportunities in different regions with different ways to leverage the blockchain,” Binance Labs CEO Ella Zhang told Techcrunch.