It is a well-known fact that building new products is hard, and with crypto, the difficulty is even greater. You have to take care of the security and stability of the product, but you also have to keep it usable and intuitive. Other common challenges are funding, lack of talent, and, let's not forget, finding a market need.
The whole process is extremely complex, and everyone is aware of the struggles faced by developers daily. To help projects building on BSC overcome these challenges, BSC is announcing the MVB Incubation Program.
Introducing the MVB Incubation Program
This incubation program aims to accelerate new and emerging startups by focusing on mitigating the challenges mentioned above and help them steer away from failure. As a part of the Most Valuable Builder series, this incubation program will offer mentorship from top subject matter experts in both the mainstream and cryptocurrency industries. The program will bring projects closer to mentors from product (UX, tokenomics), technology (smart contracts, node development), security, marketing & operations, and investment (fundraising).
The incubation program will be deployed during the ongoing MVBII: Beyond the Big Bang. A strong panel of mentors will share their expertise with selected projects via group workshops and individual coaching sessions. Project teams will be able to leverage mentors' domain and functional experience to accelerate their growth and make their products more attractive and usable.
The MVB Incubation Program comes with 4 different types of mentorship events. Each event comes with specific advantages and opportunities.
There will be Masterclasses every two weeks, where the projects get a chance to meet each other and gain valuable insights from the industry.
- 1-1 Mentoring
In this ultimate deep dive into the specifics of individual projects, mentors will aim to provide strategic advisory and execution assistance tailed to each project.
- Industry Networking Sessions
The projects will have an opportunity to join a roundtable with attractive and well-known partners and access unique partnership opportunities.
- Demo Day
In this investment-focused session, the top MVB Players get a once-in-a-lifetime opportunity to pitch their project to a private group of inventors and attempt for funding.
“The BSC ecosystem treasures all kinds of gems one can find. We acknowledge its tremendous growth and will provide more support to the community in terms of funding, mentorship and development resources. The incubation program spans in multiple directions to provide growth opportunities to the exceptional projects building on top of BSC. We believe this will help reach a step closer to our core vision as it bridges the gap between DeFi and mass adoption.”
said Gwendolyn Regina, Investment Director, BSC Accelerator Fund
The role of the mentors
The mentors will educate and lead the projects, but they will also score every project they work with to identify the best performers and increase their chances of succeeding. They will be involved in selecting the 20 Monthly Stars (each month from August to October) and the Top 10 MVB Players (who are selected from amongst the 60 total Monthly Stars).
They will score the projects based on different criteria, including the project's security status, transaction volume, userbase, innovation, and more. We believe that this will help us find the most innovative projects to incubate and help them grow further.
So what do you think about the MVB Incubation Program? Do you think it will benefit the projects? Let us know on Twitter!