How to Secure up to $1 Million from the BSC Innovation Fund

Gwendolyn Regina, Investment Director at Binance Smart Chain, has revealed how upcoming projects can secure up to a million dollars in funding.

Big Money

Earlier in October, Binance Smart Chain announced a billion-dollar war chest to accelerate the adoption of digital assets. From that fund, $500 million is to be set aside for investments in blockchain projects which Binance Smart Chain deems worthy.

Gwendolyn Regina, Investment Director at Binance Smart Chain, has now offered further details on how funding can be secured in an AMA on October 28th.

“We announced a $1 billion growth fund around two weeks ago,” said Regina in her recap, “We’ve separated it into four pillars. $100 million is targeted for talent development, another $100 million is for liquidity incentives, $300 million is for builders, developers, incubation programs, the top dApps – $500 million is investments.

Specifically, the industries in which Binance Smart Chain is most interested are Infrastructure and decentralized computing, gaming, and GameFi, advanced DeFi (DeFi 2.0) Legos, and SocialFi. The fund appears hyper-focused on its goals.

“So for this $500 million we have two objectives: We want to accelerate mainstream adoption – to grow crypto mass adoption, and to disrupt specific industries.”

As Regina explained, awards of up to $1 million can be claimed for individual projects, with the exact nature of the investment depending upon what the project is building and how far along they are in the development process. Applications for the fund can be made here.

“I assure you that every single application – we are looking at it.”

How Binance Smart Chain’s $1 billion growth fund is allocated | Source

Some Questions to Ask

Regina went on offer an in-depth breakdown of how Binance Smart Chain weighs up the proposals they receive. Projects are assessed in four categories: Innovation, Traction, Team, and Others. 

Here we reproduce the questions which Regina says projects should be asking themselves before applying.

Innovation

How unique are you?

Are you solving a problem that hasn’t been solved before?

Do you have a clear vision?

Traction

How many active users do you have?

Are people using your product and platform?

Is your traction growing sustainably/rapidly?

Team

Why are you the right person to be building this?

What background or experience do you have that is relevant to this project?

Others

Do you know what you don’t know?

For further details on how to win up to $1 million in funding from Binance Smart Chain, the entire AMA with Gwendolyn Regina is available here.

Source : bsc.news

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