Binance Labs, the venture capital and incubation subsidiary of the world’s largest crypto exchange, announced the opening of applications for its latest incubation program today. Season 6 of the Binance Lab Incubation Program would see participation from crypto entrepreneurs and early-stage web3 ventures.
According to a blog post from Binance earlier today, the 3-month long incubation program would help promote crypto innovation by funding projects that develop creative blockchain solutions with real-world use cases. Nearly 1000 applications are expected in the latest incubation program.
The Binance Lab Incubation Program Season 5 attracted more than 900 applications. Following a rigorous review of the applications, Binance selected 12 projects from sectors including infrastructure, zkDID, DeFi, tooling, security, gaming, and payment services and invested in 5 of the projects at the end of the season.
As per Binance, the incubation program is intended to help crypto entrepreneurs by focusing on web3 startup building. Project founders would have the chance to receive 1 on 1 mentoring sessions from industry leaders, including founders of Binance and Binance Labs portfolio companies.
For the latest season of the incubation program, Binance made a request for startups (RFS) in multiple areas, including Infrastructure (MEV, ZK Proofs, Layer 2 Scaling), Decentralized Finance (lending, derivatives, liquid staking), and Application Layer (AI-powered DAapps, SocialFi, Analytics). The last date for projects to apply for the program is July 31, 2023.
The announcement of the Incubation Program Season 6 was paired with that of a Kick-Off event that would be held in Paris. Binance Labs would organize a meetup event in Paris during the EthCC on July 20, 2023. As per Binance, the event would attract early-stage crypto founders, as well as alumni of programs led by the crypto giant. Participants of the event would have networking opportunities with Binance Labs mentors and have early access to sign up for the incubation program.
