Huobi Incubator Seeds $10 Million to New Web3 Scholarship Funding Platform

Huobi Incubator, the project incubation arm of Huobi Group, today announced that it will partner with five blockchain companies and university associations to establish Web3 Scholarship, a funding platform for developers, builders, and projects in the Web3 field.

Huobi Incubator Seeds $10 Million to New Web3 Scholarship Funding Platform
Photo by Shubham Dhage on Unsplash

Huobi Incubator will allocate an initial $10 million to fund the platform, while the other partners will contribute an undisclosed amount.

Huobi believes that Web3 has the potential to transform the blockchain industry and the Internet as a whole, impacting storage, protocols, networks, applications, and more. Huobi Incubator differentiates itself from traditional venture capital firms and incubators in that it focuses on early-stage projects and leverages its robust ecosystem of post-investment services to help drive growth.

The Web3 Scholarship platform will give grants to emerging Web3 projects. With these grants, Huobi aims to help developers and start-up projects grow, fostering the next generation of blockchain and Web3 companies.  A 50-member post-investment team will coach projects on aspects as wide-ranging as strategy development, talent recruitment, and technical support. 

Five organizations and companies will comprise the first batch of platform partners. Each of these enterprises has made substantial contributions to the blockchain industry and brings valuable experience to the platform. The second batch of partners will be announced in the near future. The details of the five partners are as follows:

  • CoinMarketCap: CoinMarketCap is the world's most-referenced price-tracking website for crypto assets in the rapidly growing cryptocurrency space. Its mission is to make crypto discoverable and efficient globally by empowering retail users with unbiased, high quality and accurate information for drawing their own informed conclusions.
  • Polkastarter: Polkastarter is a fully decentralized launchpad that focuses on launching new ideas in the blockchain and digital assets space. With Polkastarter, crypto projects can increase their reach, grow their communities, and receive support from top experts in the industry.
  • Poolz: Poolz is a decentralized fundraising and cross-chain launchpad. It is a hub for DeFi apps, enabling them to unravel the power of blockchain.
  • DAO Maker: DAO Maker is a leading incubation, fundraising and acceleration platform - inventor of the Strong Holder Offering. It boasts a vast network of successfully launched projects, which benefit from DAO Maker's expert consultancy and experience in the crypto industry.
  • Cambridge Blockchain Society: To foster the growth of blockchain ecosystems, Cambridge Blockchain Society maintains a network of students, researchers, entrepreneurs, and industry partners. Furthermore, it has cooperated with more than 20 university blockchain societies to form a decentralized association of institutions in the Web3 and Metaverse spaces.

Huobi is also calling for additional partners to join its Web3 Scholarship platform. As part of its partner recruitment plan, partners can join by contributing funding and other support services. Such partners will be eligible for the following benefits:

  1.   Project recommendation rights: Partners will have the privilege of recommending projects to the platform for priority consideration.
  2. Early access to emerging Web3 projects: Huobi Incubator will build a start-up project database and share project information with potential partners as deemed appropriate. Furthermore, partners may be able to partake in future roadshows and potentially have access to early investment rounds.
  3. Shared resources: Huobi Incubator will work with partners to establish a pool of shared resources. These will include user insights, developer support, media relationships, and legal & compliance resources.
  4. Resources to sponsor hackathons and other events. Web3 Scholarship will sponsor hackathons held by public blockchains and universities to help discover and fund emerging developers and projects.

“Interest in Web3 has skyrocketed over the past year, and new projects are emerging left and right. We hope to provide professional support for these fledgling projects and help them supercharge their business growth,” said Yolo Zhang, Senior Manager of Huobi Incubator. “We hope that our funding platform can enable Web3 developments that can transform the industry.”

Projects interested in applying for the Web3 Scholarship platform can send an introductory e-mail here, or take part in future events and hackathons.