BNB Chain and Binance Labs have unveiled a pioneering initiative aimed at accelerating the growth of early-stage blockchain projects worldwide.
Known as the BNB Incubation Alliance (BIA), this collaborative effort is expected to bring together leading venture capitalists, incubators, and developer communities to bolster innovation within the blockchain ecosystem.
According to the official announcement, the initiative will operate as a series of global events during which promising startups can showcase their ideas and get the opportunity to gain entry into its Most Valuable Builder (MVB) program.
This MVB program is the initiative’s highlight. According to the organizers, it will offer specialized mentorship, extensive resources, and advisory support tailored to the needs of Web3 startups navigating the complexities of building on the BNB Chain.
These events are scheduled to take place at prominent blockchain and Web3-themed gatherings. The first event is set to kick off at EthCC 2024 in Brussels, with subsequent stops planned at Bitcoin 2024 in Nashville, Token 2049 in Singapore, and Binance Blockchain Week in Dubai.
Partner VCs and incubators will nominate the projects that will participate in these events, and judging panels will consist of representatives from BNB Chain, Binance Labs, and collaborating organizations.
Participants will also have the chance to benefit from BNB Chain grants, access to Launch-as-a-Service (LaaS) packages, and potential investment opportunities from Binance Labs, which offers crucial resources for scaling their ventures.
Notably, the official announcement did not name the top VCs that would participate in the initiative.
In related news, Binance Labs recently announced an investment in BounceBit, a Layer 1 blockchain protocol that integrates Proof of Staking (PoS) mechanisms to enable validators to stake Bitcoin alongside its native governance token.
Jack Lu, Founder and CEO of BounceBit, expressed appreciation for Binance Labs’ early-stage support and emphasised the protocol’s focus on building a robust ecosystem for CeDeFi solutions. The strategic investment follows BounceBit’s successful seed funding round, which raised $6 million from investors including Blockchain Capital and Breyer Capital, among others.
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