Binancelabs will be fostering the development of projects in an early stage, thorough consultancies and cash,
500k$ in exchange of 10% of their Equity/Token. This seems to be quite an interesting initiative, on the long run could be copied by others, allowing the best projects to emerge and possibly, reduce useless/scammy projects as a side effect. Those entering this program will also have an easy way to enter Binance's exchange, beside the good chances of raising the necessary funds to complete their projects.
Let's see how is going to evolve and in particular which projects will be selected
https://www.binancelabs.co/WHAT WE DO
Seed Investment: We provide $500K Seed Funding (10% Equity/Token).
Mentorship: We have excellent mentors with both crypto and general startup experiences who will be helping our founders.
Network: We connect startups with our vast network of industry leaders in the crypto space and facilitate current and future BUIDLers to work closely together during the incubation period.
Support Services: We have resources to help with startup formation, regulatory/legal advice, recruiting, technical execution, fundraising, marketing/PR and other.
HOW IT WORKS
1. Application: Apply by Sep. 14, 2018 23:59 PT through the application link.
2. Interview: Candidates will be invited for a video interview.
3. Program Launch: Teams will physically be at the program site from Oct. 8 to Dec. 14, 2018.
4. BUIDLers Day: Teams will present their products to invited strategic partners and investors.
5. This is just the beginning of our journey.
