BNB Chain Begins Innovation Incubator Program To Boost European Web3 Startups

BNB Chain, the blockchain of the Binance crypto exchange, announced on October 10, accepting applications for its latest development-focused initiative – the web3 European Innovation incubator program, which aims to uplift European developers building and scaling decentralized applications (DApps) on the BNB blockchain. 

The innovation incubator program will provide long-term support to web3 startups in Europe by offering outstanding web3 resources as well as training through reputable partners and community professionals.

“We are determined to provide the finest infrastructure to enable European Web3 projects to grow and scale,” said Zoe Wei, Senior Business Director at BNB Chain.

Zoe added, “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 European Innovation Incubator is a three-week virtual program deliberated for innovative web3 startups across Europe to build and scale dApps, moving towards a decentralized future.

Those accepted in the program will be given hands-on sessions and mentorship on technology, marketing strategies, and tokenomics from BNB Chain's specialists and incubator partners.

Winners can get a 100% gas fee incentive for a month and a guaranteed referral to BNB Chain's Most Valuable Builder (MVB) – a long-running global accelerator program built for the purpose of supporting builders.

Additionally, the program consists of exclusive meet-ups scheduled offline. The meet-ups will take place in countries across the continent, such as Lisbon, Paris, London, Barcelona, Warsaw, and Berlin.

As of October 10th, applications to the program opened, and it is said to end by October 23rd, 2022. The Incubation period is slated from November 21st to December 11th, 2022.

18 organizations, including Pancake Swap, CoinMarketCap, and Binance Labs, are involved in the program. Each of them must be present in the region for the incubator to support the developers.

Speaking of BNB Chain, the smart contract platform collaborated with Google Clouds last month to allow decentralized applications and smart contracts hosted on the protocol to access the cloud service provider’s infrastructures. In addition, BNB Chain partnered with the University of Zurich in June to boost Blockchain Education.

While this may sound like a lot of partnership for a firm in one year, it shouldn’t be surprising, especially since Binance has an additional $7 billion fund specifically for investing in deals, and even Changpeng Zhao, CEO of Binance, has estimated that the firm may spend more than $1 billion on deals by the end of this year.