As a result of the partnership between Binance Smart Chain (BSC) and CV Labs Global Incubation Program on November 23, in Nairobi Kenya, 100 Bitcoin African startups will benefit under the new initiative by Binance.
The program, which aims to drive the adoption of blockchain in Africa and also investment in greater blockchain applicability so as to solve problems and new market creation.
The partnership is looking to invest in 100 Bitcoin African startups over the next four (4) years. It will focus on startups that will be working across fintech, supply chain, healthcare, government sectors, and more as long as it is built on blockchain.
Binance Smart Chain (BSC) is a community-driven effort of community developers and investors and recently achieved a Billion dollars ($1B) growth fund to aid the drive of blockchain and the adoption of cryptocurrency.
Till now, BSC’s generated investment funds have seed-funded more than 55 projects with up to $1M, a round-up of 60 projects have been incubated under the Most Valuable Builder program with more than 200 startups receiving a boost in terms of funds, hackathons, and grants.
CV Labs, the incubator arm of CV VC on the other hand, has already incubated 22 successful global technology teams aiding their success pathway.
The partnership between BSC and CV labs is looking to do greater than they have individually done before in driving the adoption of blockchain in Africa. As Brenton Naicker, head of Business Development & Partnerships for Africa at Binance has rightfully said;
“The show of interest from African startups has been immense, outpacing their global counterparts in terms of applications received for funding. This just reiterates the need for accelerators, incubators, and other support structures for the budding African blockchain ecosystem,”