The European Innovation Incubator of BNB Chain

BNB Chain launches the European Innovation Incubator: a three-week virtual program to select innovative Web3 startups and support them to become scalable new dApps on the Binance Blockchain. 

BNB Chain and the European Innovation Incubator: how does the Web3 program work

BNB Chain, the blockchain of the Web’s most popular crypto-exchange, Binance, has launched its new program dedicated to Web3 startups: the European Innovation Incubator. 

BNB Chain’s #Web3 European Innovation Incubator is here, and there is so much on offer:

🔸 $50k Prize
🔸Complementary Auditing
🔸Expert Tokenomics Consultations
🔸Gas Fee Incentives
🔸Access to Accelerators

And so much more, apply today ⤵️https://t.co/SIbXrhWjkQ

— BNB Chain (@BNBCHAIN) October 10, 2022

“BNB Chain’s #Web3 European Innovation Incubator is here, and there is so much on offer:

• Expert Tokenomics Consultations

And so much more, apply today.”

This is program that provides long-term support for innovative Web3 startups across Europe to build and scale dApps, in the direction of a decentralized future.

Specifically, the European Innovation Incubator will provide teams with hands-on sessions and mentorship on technology, design, tokenomics and go-to-market strategies from BNB Chain specialists and partners. 

Not only that, exclusive live meetings will be organized in Milan, Lisbon, Paris, London, Berlin, Barcelona and Warsaw for startups, partners and community members. Applications are open from 10 to 23 October 2022, while the incubation period will be from 21 November to 15 December 2022

BNB Chain and the benefits for those who will participate in the European Innovation Incubator

Startups selected to participate in the new BNB Chain program will be able to receive several benefits.

Among many, they will be able to win up to $50,000 in prizes, receive support from the ecosystem, and a one-month incentive equal to 100% of the gas fee. Not only that, BNB Chain’s support includes excellent references to the Most Valuable Builder (MVB) global accelerator program. 

In this regard, Zoe Wei, Senior Business Director of BNB Chain, said:

“We are determined to provide the finest infrastructure to enable European Web3 projects to grow and scale. To effectively build consumer-scale experiences, developers must consider accessibility and scalability – the ease of adoption and usage for both experienced web3 users and beginners. Our objective is to guide European builders in making early commitments to these fundamentals in order to grow large user bases in the long term. The program also provides concrete training and community support to help in bringing the most creative dApps to Web3 in Europe.”

European program partners

The partners who have joined the European Innovation Incubator initiative are prominent names in the crypto industry. 

Among them are Jump Crypto, Pyth Network, Keyrock, Skyland Ventures, Worldpay, 1Inch, CoinMarketCap, Trust Wallet, Pancake Swap, Salus Security, Nodereal, Polkastarter, MH Ventures, Hash Global, Binance Research, Binance Charity, and Binance Labs. 

In this regard, a spokesperson for Jump Crypto said:

“Crypto is a community, and we believe that knowledge sharing and collaboration fosters a stronger, more resilient, and more advanced crypto ecosystem overall. Jump Crypto is proud to join the European Innovation Incubator and we look forward to providing the next generation of visionary Web3 builders with the resources and support necessary to create the decentralized applications of tomorrow.”

Partners such as WorldPay and Binance Charity will help startups with their social and fintech challenges such as environmental risks and financial inclusion.

Binance and the Global Advisory Board

Another initiative of the world’s largest crypto exchange by trading volume, Binance, was the creation of its new Global Advisory Board (GAB), with the purpose of receiving support on issues of policy, finance, economics and corporate governance. 

Chairing the GAB is former US Senator and Ambassador to China, Max Baucus, accompanied by others equally experienced in the relevant fields. 

Through the Global Advisory Board, Binance is banking on its unparalleled collective experience and expertise to foster the sustainable development of the entire industry, with a focus on what is crypto, blockchain and Web3. 

Changpeng Zhao and his talk on DeFi 

Although crypto-exchange Binance is centralized, its CEO Changpeng Zhao (or CZ), stated in a speech that digital assets and decentralized finance (or DeFi) will dominate the scene in the not-so-distant future.

Not coincidentally, the first time CZ spoke in this way, Binance Smart Chain had just been launched two years ago. 

Going back to today, CZ says that centralized exchanges serve only as a kind of ramp needed for crypto, and for those consumers unfamiliar with the crypto space. 

Once people become familiar with blockchain, a move to DeFi is inevitable, according to CZ. Something that will happen in a few years.