Aries Wang, co-founder of digital asset exchange Bibox announced the other day that BiboxLab, the company’s new incubator, and accelerator has now launched.
BiboxLab is looking to bring together top token funds to consolidate resources to fully support startup entrepreneurs in terms of funding, technical guidance, mentoring services, branding and media, legal counseling and office spaces.
BiboxLab will follow Bibox’s tradition in rigorously screening quality start-up projects in the cryptocurrency and blockchain industry to select projects with the best potential for investment and incubation.
Co-Founder of Bibox Aries Wang remarked that Bibox only invests in quality blockchain startups, with no set maximum quota, he said: “As long as the project meets our criteria for quality, we will spare no effort to help it grow.”
The first criteria that BiboxLab screens a project is that it has short-term landing possibilities; secondly, besides possessing innovative technology, the project is willing to embrace regulation; finally, it provides a disruptive solution to traditional industries’ pain points.
Starting in New York, Bibox Lab will invest in high-quality blockchain projects in North America and act as the one-stop solution for these projects. BiboxLab will gradually look to Southeast Asia, Europe, and other regions for quality projects as well.
Aries shared that the motivation behind establishing BiboxLab is to support and promote the applicability of blockchain technology across industries. According to Aries, in addition to the pressing funding needs of start-ups, help needed in terms of both technology and marketing is prevalent as well. BiboxLab’s one-stop solution aims to help alleviate this problem. BiboxLab will leverage on Bibox’s technological advantages accumulated in the blockchain industry to provide professional technical advice to projects. Wang said: “We will also provide mentorships, roadshows and legal guidance to projects, to create the most abundant soil for the projects to blossom.”
Just last month, Bibox announced the establishment of its Blockchain Research Centre in Hainan, China. Together with the launch of BiboxLab, Bibox has certainly evidenced tremendous conviction in promoting the development and applicability of blockchain technology.