Binance Labs Seeking to Incubate African Blockchain Startups

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Binance Labs is calling out for applications for any early-stage startups looking to get incubated from Africa. In Africa, Lagos will be the first incubation hub from where startups in Africa can be incubated via the venture firm.

Speaking to BitcoinKE, the new Binance Labs Director, Yele Bademosi, said he was excited to introduce the first Binance Labs program in Lagos, Nigeria. Yele was also thrilled to learn about the thriving East African blockchain space and would be delighted to pay a visit and check out the space even further.

Yele Bademosi, Binance Labs Director, in charge of developing the blockchain ecosystem in Africa
The 2nd Season of Binance Labs Incubation Program will take place in 5 Continents simultaneously. Below are the details:

 

Phase 1 Regional: Mar. 25 – May. 3 (7 weeks)
Africa: Lagos
Asia: Hong Kong, Singapore
Europe: Berlin
North America: San Francisco
South America: Buenos Aires

 

After the completion of the first phase, all teams in different chapters will get together in Singapore for the last 3 Weeks between May 4th – May 31st.

 

Startups that get incubated at Binance Labs receive the following the venture firm:

 

  1. Seed Investment: We provide Seed Funding: min. $120k  (10% Equity and 10% of Token Sale Pool).
  2. Mentorship: We have top mentors with both crypto and startup experiences.
  3. Network: We connect startups with our network of industry leaders.
  4. Other Resources: We provide support for startup formation, regulatory/legal advice, recruiting, technical execution, fundraising, marketing/PR.

 

In a statement, Binance Labs said:

 

“At Binance Labs, we believe in realizing the full potential of blockchain technology. Since our launch, we have invested in 21 blockchain startups around the world, and incubated a strong batch of projects last season.”

About Binance Labs
Binance Labs is the venture arm of Binance and an initiative to incubate, invest, and empower blockchain and cryptocurrency entrepreneurs, projects, and communities.

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