500 Startups has announced a partnership with Huobi Labs to support the growth of the Batch 23 blockchain startups. According to the announcement, 500 Startups and Huobi Labs will pick businesses for Batch 23 blockchain monitor in addition to design the application, including fundraising plan, white paper development, go-to-market strategy, community participation, and promotion.
“I am very excited to partner with Huobi Lab. Our teams will learn so much especially around the ins and outs of how a digital exchange works,” said Edith Yeung, spouse at 500 Startups. “The exciting part: Many Chinese blockchain projects are coming to San Francisco and going global from day 1”.
Huobi Labs is a blockchain incubator made by Huobi (火币网), one of the largest crypto exchanges in the world, with more than $1 billion in trading volume each day. Huobi Labs incubates pre-ICO projects. Previous Faculties comprise IOST, an infrastructure protocol for internet service providers, DATA, a “decentralized AI-powered trust alliance”, and CoinMeet, a blockchain social networking and transaction platform.
The announcement of the partnership comes a couple of weeks after the statement of 500 Startups’ initial blockchain monitor. The track will not only incorporate the features mentioned previously, but also experienced mentors in the blockchain industry including, Hitters Xu, founder and CEO of NEO, Brit Yonge, CEO of Lightyear, and Greg Kidd, former chief risk officer of Ripple, an investor at Coinbase, and CEO of GlobalID.
500 Startups is interested in foundational protocol technology, new protocols that offer different advatanges over Bitcoin and Ethereum, and applications including trading and exchanges. The deadline for applications is Monday 26 Februrary 2018 along with the program starts on March 5th at San Francisco.