100 Bitcoin African startups to benefit under new initiative by Binance

NAIROBI, Kenya, Nov 23- Binance Smart Chain’s (BSC)  Growth Fund has collaborated with CV Labs Global Incubation Program to drive blockchain adoption in Africa and invest in blockchain’s wider applicability to solve problems and create new markets.

The accelerator aims to invest in 100 startups from the African continent over the next 4 years, with a focus on startups that work across the supply chain, healthcare, fintech, government sectors, and more, building on the blockchain.

CV Labs, the incubator arm of CV VC, has already incubated 22 successful global tech teams’ pathways to success.

Binance Smart Chain is a community-driven effort with a global community of developers and investors which recently set up a $1B growth fund to drive blockchain and crypto adoption.

To date, BSC’s investment funds have seed-funded over 55+ projects with up to USD1 million, approximately 60 projects have been incubated under the Most Valuable Builder Program and over 200 startups have received a push in terms of funding under hackathons and grant programs.

BSC intends to do the same, alongside CV VC to drive blockchain adoption in Africa

“The interest from startups across Africa 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,” Brenton Naicker, head of Business Development & Partnerships for Africa at Binance said.