On August 30th, Bibox co-founder Aries Wang announced at the 2018 Blockchain Without Borders Digital Expo in New York that BiboxLab has been officially launched and will provide funding and related resources for top-tier blockchain startup projects. BiboxLab will bring together the world’s top token funds to consolidate high-quality 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 well known 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. Bibox Co-Founder Aries Wang remarked that Bibox only invests in quality blockchain startups, with no set maximum quota. “As long as the project meets our criteria for quality, we will spare no effort to help it grow.”
From Bibox website, the first criteria that BiboxLab screens a project that has short- term landing possibilities; secondly, besides innovative technology, the project is willing to look into and embrace regulation and compliances; finally, it provides a disruptive solution to traditional industries’ pain points. An leading example of those qualifications would be Vocean, a project that is yet to launch. The digital asset financial ecosystem it aims to build is the perfect combination of technology innovation, blockchain advantage, and the effort to lean in to the traditional financial world and with full compliance compatibility.
BiboxLab is created with eyes set on the global stage. Starting from New York, it will invest in a series of high-quality blockchain projects in North America and act as the one-stop solution for these projects. Aries Wang shared that the motivation behind establishing BiboxLab is to support and promote the applicability of blockchain technology across industries. Hence, as long as the project is of high quality, BiboxLab will work with the world’s leading Token Funds to provide services, including capital, technology, consulting, marketing, legal and office space, to the project. BiboxLab will gradually look to Southeast Asia, Europe and other regions for quality projects as well.
In Aries Wang’s view, 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 can help alleviate this problem. Taking technology as an example, BiboxLab will leverage on Bibox’s technological advantages accumulated in the blockchain industry to provide professional technology advice to projects. “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.