Huobi Labs Announces a $1 billion fund for Blockchain companies
A strategic partnership has been announced between Tianya and Huobi labs. With the latter introducing a $1 billion fund for new businesses seeking to enter the field of blockchain technology.
Huobi Labs is an incubator company for the larger cryptocurrency exchange, Huobi. Offering startups initial funding, industry resources, and advice, including exclusive access to a bespoke evaluation system.
The collaboration between Huobi and Tianya, one of China’s most popular internet forums for companies will result in the development of a joint Global Cultural and Creative Blockchain Lab in Southern China.
The Blockchain lab will be developed in conjunction with Huobi Labs’ creation of a $1bn fund. Which will be used to support businesses that want to start up as a blockchain company.
Both the fund and the lab come at a time when the People’s Republic of China has demonstrated a pivot on international trade. The Chinese government has announced that it will implement a global free-trade zone in Hainan province.
The free-trade zone will take full effect by 2020, with Huobi and Tianya poised to be one of the first to establish itself there. Li Lin, the founder of the Huobi group, has announced the broader aspirations of this joint co-operation between the organisations.
- Launch a billion-dollar global blockchain industry fund.
- Build a 40,000 square meter blockchain incubator.
- Huobi China headquarters will be relocated to the Hainan Ecological Software Park.
- Collaborate with top global companies to build 10 GlobalBlockchain+ labs.
- Partner with some of the best universities in the world in order to build a blockchain research institute