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Blockchain network on blurred skyscrapers background. Financial technology and communication concept.Getty
The main global exchange of cryptocurrency, Binance, has created a series of initiatives designed to support the world's blockchain community. Now, Binance focuses on solving the most critical issues facing the blockchain industry by placing emphasis on mentorship, orientation, and education.
Through his arm of fortune, Binance Labs, 10 weeks, on the spot Incubation program was created. This program is designed to help entrepreneurs provide products with a clear product-market fit. From his to launch in October 2018, Binance Labs' incubator became the strongest network of early blockchain developer teams.
The Binance Labs Incubation Program is a 10-week on-site program designed to provide the resources needed for the best blockchain developers worldwide. Through the program, we support entrepreneurs who are solving critical problems for the blockchain industry. In particular, we help participants to focus on "BUIDLing" products right from the start. The term BUIDL is a term of the Binance Academy glossary, originally derived from HODL, a term that refers to keeping your head down and focusing on building the product ", Ella Zhang, manager of Binance Labs, told me.
Today, the inaugural chapter of San Francisco ended, graduating its first batch of blockchain projects from the Binance Labs Incubation Program. The program culminated in an invitation-only BUIDLers Day, in which each of the eight teams participated in over 150 of the leading Silicon Valley investors.
Over five hundred projects have been applied for Season 1 of the incubation program over a period of four weeks. After an intensive review process, which required consensus among all members of the Binance Labs team, eight projects were selected. Each startup has received $ 500,000 in initial funding and direct access to a wide range of resources, industry leaders and mentors through the Binance Labs network.
During the San Francisco program, seven of the eight projects have already shipped work products and brought users on board, and three of these teams have signed paying customers.
The first batch of projects from the Binance Labs incubator has matured rapidly over the course of the program. The projects have raised their teams, many have shipped products with paying users and share our vision in this area. 2018 was a year of construction and concentration over the long term. We will continue to grow the ecosystem and support the best projects to build a solid service, "said Changpeng Zhao (CZ), founder and CEO of Binance.
In addition to continuous support from Binance, all projects will have the opportunity to get on the stage at Binance Conference, to be held from 21 to 22 January 2019 in Singapore. Binance Labs has also announced its intention to host its next incubation program on five continents, in Berlin, Buenos Aires, Hong Kong, Lagos, San Francisco and Singapore.
Another block in the chain: Product Market Fit
While the incubation program allows Binance to discover the main emerging technologies in the blockchain space, it also helps the participants to understand the correct adaptation of the product market to their projects.
"There are two problems we have seen in the ecosystem, which have helped inform our program design: a lack of a fit product market in many blockchain projects, and the clamor of the market that distracts the founders from BUIDLing. With the incubation program, projects can focus on shipping a product or service that works with the product-market in shape as quickly as possible, "Zhang said.
Through the incubation program of Binance Labs, the most famous companies in the sector provide developers with direct feedback based on their needs, along with the needs of their users. In turn, better blockchain products are created for the correct use cases.
Mark Miyashita, co-founder and CEO of Akio Labs, one of the eight startups of the San Francisco incubation program, found this particularly useful.
I highly recommend the Binance Labs incubation program. Every time we had to make a connection with someone in the industry, Binance's labs had a first or second degree connection and we were able to talk to that person. This helped us enormously accelerate our progress. We were able to be present in the newsletters and we were able to get connections with many VCs to see if they would use our product, which was very useful overall, "Miyashita told me.
Echoing this sentiment, Robert Yau, founder of & nbsp;Pathway, noticed,
When I first heard about the Binance Labs incubation program and was invited to apply, I read about the people in the team and how Binance had grown so quickly in a short space of time. It was a breeze for me to participate. Since I joined, I realized that a fundamental part of the program were also the different mentors we had access to. You have different opinions, different strategies and unique ways of thinking. The incubation projects also covered the entire spectrum, which is exceptional on Binance because the focus is not just on the technology itself, but on the whole global spectrum. "
In addition to being a regular mentor of innovators such as Viktor Radchenko, Founder of Trust Wallet (recently acquired by Binance) and Lily Liu, co-founder of Earn.com (Acquired by Coinbase), program participants were able to participate in weekly chats with leaders as CZ of Binance. & Nbsp;
"We are predicting the creation of BUIDLER's strongest blockchain network and future game changes for the industry coming from our program." Driving and driving are essential, "Zhang said.
The eight startups of the San Francisco incubation program include:
- & Nbsp; & nbsp; Akio Labs: the easiest way to get information from blockchain data
- & Nbsp; & nbsp; Deaux – Teespring for forecasting markets
- & Nbsp; & nbsp; Decore – Taste for native cryptic companies
- & Nbsp; & nbsp; Injective Protocol: the new standard for decentralized exchange
- & Nbsp; & nbsp; Nym – Building a secure and private Internet future
- & Nbsp; & nbsp; Path – Plaid for Crypto
- & Nbsp; & nbsp; SafePal – The simplest & amp; More convenient hardware portfolio
- & Nbsp; & nbsp; Torus – Login without friction for Dapps
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Blockchain network on blurred skyscrapers background. Financial technology and communication concept.Getty
The main global exchange of cryptocurrency, Binance, has created a series of initiatives designed to support the world's blockchain community. Now, Binance focuses on solving the most critical issues facing the blockchain industry by placing emphasis on mentorship, orientation, and education.
Through his arm of fortune, Binance Labs, 10 weeks, on the spot Incubation program was created. This program is designed to help entrepreneurs provide products with a clear product-market fit. From his to launch in October 2018, Binance Labs' incubator became the strongest network of early blockchain developer teams.
The Binance Labs Incubation Program is a 10-week on-site program designed to provide the resources needed for the best blockchain developers worldwide. Through the program, we support entrepreneurs who are solving critical problems for the blockchain industry. In particular, we help participants to focus on "BUIDLing" products right from the start. The term BUIDL is a term of the Binance Academy glossary, originally derived from HODL, a term that refers to keeping your head down and focusing on building the product ", Ella Zhang, manager of Binance Labs, told me.
Today, the inaugural chapter of San Francisco ended, graduating its first batch of blockchain projects from the Binance Labs Incubation Program. The program culminated in an invitation-only BUIDLers Day, in which each of the eight teams participated in over 150 of the leading Silicon Valley investors.
Over five hundred projects have been applied for Season 1 of the incubation program over a period of four weeks. After an intensive review process, which required consensus among all members of the Binance Labs team, eight projects were selected. Each startup has received $ 500,000 in initial funding and direct access to a wide range of resources, industry leaders and mentors through the Binance Labs network.
During the San Francisco program, seven of the eight projects have already shipped work products and brought users on board, and three of these teams have signed paying customers.
The first batch of projects from the Binance Labs incubator has matured rapidly over the course of the program. The projects have raised their teams, many have shipped products with paying users and share our vision in this area. 2018 was a year of construction and concentration over the long term. We will continue to grow the ecosystem and support the best projects to build a solid service, "said Changpeng Zhao (CZ), founder and CEO of Binance.
In addition to continuous support from Binance, all projects will have the opportunity to get on the stage at Binance Conference, to be held from 21 to 22 January 2019 in Singapore. Binance Labs has also announced its intention to host its next incubation program on five continents, in Berlin, Buenos Aires, Hong Kong, Lagos, San Francisco and Singapore.
Another block in the chain: Product Market Fit
While the incubation program allows Binance to discover the main emerging technologies in the blockchain space, it also helps the participants to understand the correct adaptation of the product market to their projects.
"There are two problems we have seen in the ecosystem, which have helped inform our program design: a lack of a fit product market in many blockchain projects, and the clamor of the market that distracts the founders from BUIDLing. With the incubation program, projects can focus on shipping a product or service that works with the product-market in shape as quickly as possible, "Zhang said.
Through the incubation program of Binance Labs, the most famous companies in the sector provide developers with direct feedback based on their needs, along with the needs of their users. In turn, better blockchain products are created for the correct use cases.
Mark Miyashita, co-founder and CEO of Akio Labs, one of the eight startups of the San Francisco incubation program, found this particularly useful.
I highly recommend the Binance Labs incubation program. Every time we had to make a connection with someone in the industry, Binance's labs had a first or second degree connection and we were able to talk to that person. This helped us enormously accelerate our progress. We were able to be present in the newsletters and we were able to get connections with many VCs to see if they would use our product, which was very useful overall, "Miyashita told me.
Echoing this sentiment, Robert Yau, founder of Pathway, noticed,
When I first heard about the Binance Labs incubation program and was invited to apply, I read about the people in the team and how Binance had grown so quickly in a short space of time. It was a breeze for me to participate. Since I joined, I realized that a fundamental part of the program were also the different mentors we had access to. You have different opinions, different strategies and unique ways of thinking. The incubation projects also covered the entire spectrum, which is exceptional on Binance because the focus is not just on the technology itself, but on the whole global spectrum ".
In addition to being a regular mentor of innovators such as Viktor Radchenko, Founder of Trust Wallet (recently acquired by Binance) and Lily Liu, co-founder of Earn.com (Acquired by Coinbase), program participants were able to participate in weekly chats with leaders as CZ of Binance.
"We are predicting the creation of BUIDLER's strongest blockchain network and future game changes for the industry coming from our program." Driving and driving are essential, "Zhang said.
The eight startups of the San Francisco incubation program include:
- Akio Labs: the easiest way to get information from blockchain data
- Deaux – Teespring for forecasting markets
- Decore – Taste for native cryptic companies
- Injective Protocol: the new standard for decentralized exchange
- Nym – Building a secure and private Internet future
- Path – Plaid for Crypto
- SafePal – The most simple and convenient hardware portfolio
- Torus – Login without friction for Dapps
