Blockchain technology is seeing a big growth and investment in many countries across the world and India isn't far behind. There are no dearth of startup taking shape in this space now and Binance hopes to make a positive difference in this space in many markets including India.
In an interview with Coin Crunch India, Ella Zhang, head of Binance labs shared some information about the platform and how blockchain devs and emerging startups from India will find their programs beneficial.
Binance Labs is a social impact fund and an initiative to incubate, invest, and empower blockchain and cryptocurrency entrepreneurs, projects, and communities.
Our mission is to solve the problems that matter most to the ecosystem and change the world for the better.
Zhang also added that Binance Labs platform has so far supported 21 blockchain projects in 2018. One of the striking aspects of this is the fact that 13 startups received direct investment. 8 Startups were nurtured via the inaugural season of the Binance Labs Incubation Program, and they are focusing on helping grow blockchain ecosystem in India.
When asked about their application and evaluation process Zhang said the following:
Startups/teams can start by visiting our website and completing the application at https://www.binancelabs.co/. These applications will go through an intensive review process which requires an interview and consensus reached among all members of the Binance Labs team, to make an offer. The deadline for applying to the Binance Labs Incubation Program is fast approaching, we would like to suggest the teams to send their application now.
Currently the Indian government is under notice from the Indian Supreme Court to come out with cryptocurrency regulation in less than 4 weeks. Binance's attempts at promoting the blockchain ecosystem in India at such an early stage is going to go a long way in ensuring great success for blockchain devs, investors and startup founders in the country.
Another reason to cheer for Binance and their foray into India through this learning journey. Find out more about Binance Labs here and here
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