The big players of Crypto space are introducing their own incubation program. These incubation programs were introduced late in the crypto world but now, they are shaping the future of crypto space. In incubation programs, host companies provide resources like expertise, the technology required and connection to startups and in return, they get some equity.
The Blockchain incubation programs are different from traditional programs. Traditional incubation programs focus mainly on raising investment but in Blockchain, incubation programs help startups to make them a game-changer.
Let’s have a look at some notable incubation programs which provided the perfect platform for startups.
Ethereum Community Fund is an incubation program run by Ethreum network. It aims to find the best startups which can help the Ethereum ecosystem, as well as contribute to larger adoption of the decentralized tech.
It provides startups infrastructure, research, developer experience and tooling, open-source development advocacy, educational initiatives, and responsible community growth. On Mar 1, 2018, the Ethereum Community Fund invested $100000 in Daxia which creates open-source softwares for derivatives contracts On Ethereum.
Binance incubation program has seen a noticeable success as many startups made their name under its wings. They include Nym Technologies, Torus, Marlin Protocol, Cere Network, and SafePal. Binance has a total capital of $1 billion dedicated for supporting upcoming Blockchain startups.
Binance Labs, the venture arm and incubator of Binance, announced season 3 for its incubation program on July 18, 2019. Binance Labs offers a unique set of resources to startups which include seed funding, mentorship, extensive network, regulatory/legal advice, recruiting, technical execution, fundraising, marketing/PR, etc.
Ella Zhang, the head of Binance Labs, speaking to a news outlet, said:
“Binance Labs is committed to supporting entrepreneurs who will drive adoption and innovation in blockchain. India is full of exceptionally talented developers, as we have witnessed from working closely with our portfolio founders at Matic Network and Marlin Network. We are excited to see more token projects coming out of the country and fund them to find product-market fit in the nascent industry.”
Similarly, Coinbase ventures, the sidearm of Coinbase, invests in companies building the open financial system. It has invested in 42 companies but does not promise any strategic partnerships in the future.
KuCoin Global Titan Ambassador Program and ETC Labs’s incubation programs are also worth mentioning in shaping the decentralized space.