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In this blog post, we dive into the World of Web3 Incubations and Investments! 🚀 Join us on an exhilarating journey through the dynamic landscapes of Binance, Polygon, Algorand, and Celo, where innovation knows no bounds! 🌱💡
Table of Contents
Binance
Binance has been actively supporting early-stage blockchain and crypto projects through its Binance Labs Incubation and MVB Accelerator Program. These programs provide mentorship, funding, and various resources to help startups grow. The incubation programs have evolved over the years, with each season lasting for a specific duration and targeting projects from different categories. The details of the accepted projects are found in the links below.
- Binance Labs Incubation Program:
- MVB Accelerator Program:
- MVB Accelerator I (Feb 2021): 3 projects, $1.6m seed funding.
- MVB Accelerator II (May 2021): 10 projects, $10k grant each.
- MVB Accelerator III (Nov 2021): 10 projects, $1.5m in rewards ($10k each).
- MVB Accelerator IV (Jan 2022): Top 3 projects received $1m, $500k, and $200k.
- MVB Accelerator V (Oct 2022): 7 projects.
- MVB Accelerator VI (Jun 2023): 4 projects.
- Diverse Project Categories:
- Incubation programs support various categories: infrastructure, DeFi, NFTs, gaming, social finance, etc. This indicates a broad spectrum of innovation in the blockchain and crypto space.
- Global Reach:
- Programs are not limited to a specific geographical location. Projects from various countries accepted, fostering global innovation and tapping into talent worldwide.
- Innovation in DeFi:
- DeFi (Decentralized Finance) is a recurring theme in Binance's programs, highlighting its significance in the blockchain ecosystem.
- Adaptation to Market Trends:
- Programs adapt to market trends and emerging technologies. Examples include mentions of cross-chain solutions, privacy SDKs, and advertising on Web3 platforms in 2023, demonstrating an awareness of evolving market needs.
Polygon
The Polygon ecosystem suggests a focus on fostering innovation and growth across various sectors, with an emphasis on gaming, NFTs, and DeFi. Polygon is actively providing financial support, mentorship, and resources to startups, and it is also open to collaborations and partnerships to strengthen the ecosystem. The global reach and long-term commitment to quarterly grants demonstrate a dedication to supporting projects and the broader blockchain community.
- Investments:
- Involvement in the investment and growth of projects and startups.
- Funding types: Grants, Accelerator, and Anchor Fund Investments.
- Notable programs:
- Polygon Leap (Dec 2021): 12-week accelerator program awarding $250k to 6 Indian startups.
- Polygon x Base Camp Accelerator (May 2022): 12-week program granting $125k to 8 teams.
- Polygon x Gitcoin Grant (Dec 2021): $1m pledged over five quarterly grants until December 2022.
- Polygon x SuperLayer (Aug 2022): $25m funding round for Web3 venture studio SuperLayer.
- Encode x Polygon (Sep 2022): 8-week accelerator program supporting Web3 startups.
- Icetea Labs x Alpha Venture DAO x Polygon (Sep 2022): 8-week accelerator program for 6 selected startups.
- Polygon HyperNest DeFi Accelerator (Mar 2023): 12-week program providing $110k grants to 10 companies monthly.
- No specific pattern in investment amounts, but running periods typically range from 8-12 weeks.
- Strong Focus on Gaming and NFTs:
- Recurring emphasis on gaming and NFT projects in various programs.
- Examples include "Polygon Leap" and "Polygon x Base Camp Accelerator."
- Global Reach and Inclusivity:
- Some programs have regional focus (e.g., "Polygon Leap" in India), while others are global.
- Polygon HyperNest DeFi Accelerator includes multiple regions like Africa and Asia, showcasing inclusivity.
- Collaborations and Partnerships:
- Engaged in partnerships with entities like Gitcoin and SuperLayer. Collaborations aimed at fostering innovation and development in the blockchain space.
Algorand
Algorand network fundings has been actively supporting and funding projects through various accelerator programs and grants. The trends in the network’s funding activities include:
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Investment Amounts and Trends:
- Algorand Asia Accelerator in October 2020 provided a $15k upfront seeding for 10 projects.
- In 2021, Algorand Europe Accelerate offered $15k upfront seeding to 11 companies.
- In 2021, Algorand Miami Accelerator offered $35k to 10 companies.
- In 2022, Algorand foundation, Borderless capital and Eterna launched Algorand Accelerate 2022, a 12-week acceleration program and offered $35k upfront seed funding to selected projects.
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In February 2023, ALGORAND APAC invested $50k in 7 companies.
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Accelerator Program Characteristics:
- Accelerator programs typically run for 10–12 weeks.
- An average of 10 projects is selected for each accelerator program.
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Specific Industry Focus:
- Algorand's accelerator programs focus on various industries, including blockchain-based music, social networking, financial inclusion, and gaming. Tailored approach aims to provide relevant support and expertise to startups in niche sectors.
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Venture Partnerships:
- Some accelerator programs involve investment from venture partners. This indicates external interest and investment in Algorand's ecosystem.
Celo
Celo Camp is a major funding program for the network. It is an accelerator program that has been supporting and funding projects across various batches. Besides funding, Celo Camp provides mentorship, pitching opportunities to investors, access to industry experts, networking, workshops, and technological support to help projects grow.
- Investments:
- Batch 1 (Jul 2020):
- Grand Winner: $10k cUSD, return flights, roadshow access.
- Runner-up: $5k cUSD.
- Batch 2 (Oct 2020):
- Grand Winners: $10k cUSD.
- Runner-up: $5k cUSD.
- Five teams: $2k cUSD each.
- Batch 3 (Apr 2021):
- Gold Prize: $10k cUSD, 2k CELO.
- Silver Prize: $2k cUSD, 1k CELO.
- Batch 4 (Sep 2021):
- Gold Prize: $10k cUSD, 2k CELO.
- Silver Prize: $2k cUSD, 1k CELO.
- Batch 5 (Apr 2022):
- 1st Prize: $10k cUSD, 2nd Prize: $5k cUSD.
- Celo Tenet Awards: $2k cUSD (five teams).
- Batch 6 (Dec 2021):
- 1st Prize: $10k cUSD, 2nd Prize: $5k cUSD.
- Top 5 teams: 2k cUSD each.
- Batch 7 (Feb 2023):
- 1st Prize: $10k cUSD, 2nd Prize: $5k cUSD.
- Top 5 teams: 2k cUSD each.
- Reward structure remained consistent, but specific awards for top teams varied.
- Batch 1 (Jul 2020):
- Batch Expansion:
- Number of teams increased from 18 in Batch 1 to 30 in later batches (demonstrating program growth).
- Global Reach:
- Celo Camp attracts projects globally from regions like Africa, Asia, Australia/NZ, Caribbean, Eastern Europe, Europe, Middle East, North America, and South America.
- Diverse Project Focus:
- Projects cover diverse domains including DeFi, NFTs, payments, creator economy, gaming, P2E, and DAOs.
- Alignment with Celo's Tenets:
- Encourages projects to align with Celo's core tenets, with additional awards for teams reflecting these values.
- Evolving Technology Trends:
- Later batches (e.g., Batch 6 and 7) show a focus on sustainable and regenerative finance (ReFi), reflecting environmental and social responsibility trends.
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