By George Ward
Binance Labs have chosen twelve crypto-driven projects for Season 5 of its Incubation initiative. The projects selected for the program are from various sectors like tooling, gaming, security, infrastructure, and payment.
Binance Labs, the VC arm of Binance firm, kickstarted the fifth season of its incubation program. On November 10th, Binance announced that it had picked twelve projects for this year’s events.
Per the report, the applications for the program went through rigorous review. After the assessment, Binance Labs selected the best twelve. The chosen projects cut across various industries like security, infrastructure, tooling, payment, and gaming.
The twelve projects are Sandbags Protocol, PIP, The Harvest, Bracket Labs Group, zkPass, Notebook Labs, DappOS, Ontropy, HANA EVM, Wallet Guard, Mind Network, and Kryptoskatt.
Also, Binance stated that this Season 5 would aim at empowering and developing innovative blockchain initiatives. These initiatives will help transform the future of the Web3 sector.
According to Binance, this season is the most competitive compared to the previous ones. The company revealed that it got more than 900 applications for this season’s cohort.
Meanwhile, Binance Labs’ Incubation Program is a biannual, innovative program. The program, which lasts for eight weeks, has a curriculum tailored to the way Binance Labs wants.
Also, it is supplemented with unique industry resources, such as fireside talks with industry leaders and an investment-based demo day.
During the event, participants will enjoy access to entrepreneurship and Web3 courses. In addition, there will also be private mentorship sessions with experts in the industry.
The new participants will also get to meet incubator alumni who were at previous seasons. However, Binance did not reveal if it would invest in any projects.
Binance Also Launches Startup Initiative In Paris
Meanwhile, Binance Labs Head and Binance Co-Founder Yi He stated that Binance Labs is committed to growing scalable projects necessary for the development of the Web3 sector. He added that the incubation initiative would empower founders of Web3 startups.
In addition, it would allow them to maximize their full potential, notwithstanding the market situation. Furthermore, Binance has also launched an accelerator initiative in Paris.
According to reports, Binance Labs has begun in-person meetings for businesses at the Paris startup accelerator Station F. The company argues that it picked Paris because it is a hub for global startups. Binance stated:
“Station F is among the places where most international startup firms meet. Hence, our incubation initiatives will interact with other upcoming market leaders. Additionally, they will meet with other global startups and investors outside the Web3 sector.”
Furthermore, there shall be other engagements during Binance’s 2-week stay at Station F. Binance will host an offline mentorship workshop for industry professionals and incubator projects. Both entities will get to engage in face-to-face conversations.