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It is important to note that the incubator program is meant for European projects that are considering or have already been deployed on the BNB Chain.
The world’s largest smart contract blockchain by daily active users BNB Chain is launching a three-week virtual program, European Innovation Incubator. This is to enable web3 startups in Europe to build “dApps, driving towards a decentralized future.” According to the announcement, interested candidates can submit their applications from October 10 to October 23rd, 2022. The incubation period is also from November 21st to December 15th, 2022.
As explained on the official website, the program will feature Partners and community experts to provide training and web3 resources for the long-term support of startups. This means teams will have the opportunity to take part in the design, tokenomics, hands-on sessions, and mentorship on technology, as well as go-to-market strategies from BNB Chain’s specialists and incubator partners.
According to Zoe Wei, Senior Business Director at BNB Chain, they are prepared to ensure that European web3 projects are provided with the finest infrastructures to support their growth and scalability.
“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 to grow large user bases in the long term,” he said.
Wei further stated that the program would bring the most creative dApps to Web3 in Europe through training and community support.
The winners would have the chance to go home with up to $50,000. In addition, Innovation ecosystem support including complementary security auditing and token economics consultation would be provided by the BNB Chain community and partners according to the announcement. On top of this, winners would be given a one-month 100% gas fee incentive and referral to BNB Chain’s Most Valuable Builder (MVB).
It is important to note that the incubator program is meant for European projects that are considering or have already been deployed on the BNB Chain. Also, at least one key team member of the project must be located in Europe for local networking.
“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,” said a spokesperson of Jump Crypto, one of the prominent partners of the program.
BNB has not reacted much to this as the price is still down by 2.9% in the last 24 hours as sellers dominate the market. Regardless, it has shown resilience compared to the 5% and 4.7% fall of Dogecoin and Terra Classic within the same period.