500 Startups has announced a partnership with Huobi Labs to support the growth of their Batch 23 blockchain startups. According to the announcement, 500 Startups and Huobi Labs will select companies for Batch 23 blockchain track as well as design the program, including fundraising strategy, white paper development, go-to-market strategy, community engagement, and marketing.
“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, partner at 500 Startups. “The exciting part: Many Chinese blockchain projects are coming to San Francisco and going global from day 1,” she told TechNode.
Huobi Labs is a blockchain incubator created by Huobi (火币网), one of the largest crypto exchanges in the world, with over $1 billion in trading volume per day. Huobi Labs incubates pre-ICO projects. Previous graduates include IOST, an infrastructure protocol for online 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 few weeks after the announcement of 500 Startups’ first blockchain track. The track will not only include the features mentioned above, 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 in Coinbase, and CEO of GlobalID.
500 Startups is specifically interested in foundational protocol technologies, new protocols that offer distinct advatanges over Bitcoin and Ethereum, and financial applications including exchanges and trading. The deadline for applications is Monday 26 Februrary 2018 and the program starts on March 5th in San Francisco.