Binance Labs’ Most Valuable Builder (MVB) accelerator program aims to help projects looking to build on the BNB Chain and multichain future, and grow through coaching, investment, and network support. Nevertheless, you may ask yourself, “should I apply?”
We sat down with Tyler Z., Investment Director at Binance Labs, to discuss what the team is looking for when evaluating projects for season six of MVB.
At what stage of the development cycle are projects considered for MVB?
MVB is stage agnostic and designed for projects across various phases including whitepaper/ideation, MVP, testnet, and mainnet. The goal is to bring disruptive technological advancement and app innovation to BNB Chain – and ultimately, to the broader blockchain industry. Regardless of the stage in the development cycle, MVB will provide resources from both Binance Labs and BNB Chain to help accelerate your growth and scale your business.
Are there projects that are too big or too small to apply to MVB – from a team size, user base and investment perspective?
Each project will have different team size, user base, and traction across the development cycle. MVB values disruptive innovations the most. We will prioritize early-stage projects to participate so Binance Labs and BNB Chain can provide meaningful value and resources from day one. At the same time, we will also accept projects with traction and existing product market fit to further accelerate growth.
How is MVB different from BNB Chain regional innovation incubators (e.g. Europe, Vietnam) and hackathons?
Regional incubators and hackathons are hosted by regional BNB Chain teams with the goal of driving regional Web 3 adoption through grants. Winners and top-performing teams will gain priority access to the MVB application process with strong referrals.
MVB is a global, flagship accelerator program organized by Binance Labs and BNB chain biannually. Admitted projects will have the opportunity to receive investment from Binance Labs and grants from BNB Chain, as well as integration support from both.
Can projects that have already gone through an incubator or accelerator apply to MVB?
Yes, MVB is open to projects with various backgrounds. However, for Binance Labs to consider investment, we typically would like to have cap table alignment with projects – it is important for founders to assess their cap tables independently and ensure they are not overly diluted.
Are there any geographic preferences or restrictions for applicants?
Blockchain is permissionless and decentralized, so we encourage projects from different geographies to apply.
What are some hard-line indicators that a project will not be eligible for MVB?
Transparency and integrity are what we value the most. We practice a zero-tolerance policy toward any kind of unethical practices, fraud, scams, or corruption.
What kinds of issues or problems do applicants typically have that could benefit from participation in MVB?
Entrepreneurship is a challenging but also rewarding journey. From our experience, we typically see the below problems from founders and builders:
- Lack of tailored mentorship, industry knowledge, and ecosystem support
- Limited access to talent, capital, and visibility
- Uncertainty towards business model and product market fit
MVB is designed to provide early stage founders with resources and support to overcome these challenges from day one.
Do projects have to be built on BNB Chain exclusively or can they be multichain? Are existing projects looking to migrate from other L1s eligible for MVB?
MVB encourages projects to be BNB Chain-focused in the near term, but expand to multichain in the future. The entire program is designed to help projects better navigate the Binance and BNB Chain ecosystems, so as long as you are building on BNB Chain, multichain on BNB Chain, or plan to build on BNB Chain, we welcome all of you to apply.
If applicants have competitors that are already live on BNB Chain can they still apply?
Every business will face competition from different angles. As we bring mass adoption to the blockchain industry, we will need talented individuals to drive innovation with a unique value proposition and competitive edge – even from the same domain of expertise and focus. We value projects with a strong moat to differentiate themselves and remain competitive within their respective sectors.
What unique characteristics are you looking for in a project’s Whitepaper? Protocol? Founding team?
We value the below criteria:
- Innovative product backed by strong tech stack
- Scalable total addressable market
- Dedicated team with relevant background, long-term vision and resiliency
- Sustainable business/revenue model to achieve product market fit
- Robust tokenomics, if applicable, to add value-accrual and incentives to all ecosystem participants
What is the MVB curriculum (or some highlights from the MVB curriculum) and how specifically can it help projects move to the next stage in their development?
The curriculum covers various topics including but not limited to product-market fit, go-to-market strategy, tokenomics, security, fundraising, etc. MVB designs curriculums tailored to the biggest challenges start-up founders and builders will face throughout their entrepreneurship journey.
What can applicants get from the MVB program that they can’t get at any other incubator or accelerator?
As the flagship program between Binance Labs and BNB Chain, founders will not only get access to customized program perks (e.g. curriculum, audit and security service discount, selective investment/grant), but more importantly direct integration to the Binance and BNB Chain ecosystems.
The application for BNB Chain’s Most Valuable Builder Season 6: Fit for Flight takes only a few minutes to complete. All applications will go through a comprehensive and rigorous selection process and only qualified candidates will be eligible to join the program. Simply fill out a brief form and the MVB team will contact project founders that are eligible for admission. Apply now!
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