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 <p class="is-style-lead">With the initiative, early-stage projects will get fundraising and other support from the Solana Labs team.</p>
 <p>Solana Labs, the technology firm behind the Solana <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a>, has announced the launch of a new initiative called Solana Incubator to help grow “the next great companies in the ecosystem.”</p>
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    <p lang="en" dir="ltr">1/ Applications are now open to the Solana Incubator! If you're aiming to create the next great company in Web3, we're here to build alongside you. Get hands-on engineering, go-to-market, and fundraising support from the Solana Labs team. https://t.co/9HTTIdLjqd pic.twitter.com/Sa7gWTAh1c</p>— Solana Labs (@solanalabs) October 26, 2023
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 <p>In an X thread on Thursday, Oct. 26, the firm said selected <a rel="noopener noreferrer nofollow" title="startups" href="https://thebittimes.com/tag/startups.html">startups</a> will get not only marketing, technological, and fundraising support. Although the initiative mainly focuses on Solana-related products, web2 teams incorporating web3 will also get onboarding and development support from Solana.</p>
 <p>Developers can submit their applications to participate in the program until Nov. 30, 2023.</p>
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 <p>Solana’s latest effort seems to be another attempt to jeopardize Ethereum’s (ETH) position as one of the biggest blockchain ecosystems after Solana Anatoly Yakovenko called the blockchain a “digital carnival.”</p>
 <p>As crypto.news reported in early October 2023, the Solana boss questioned Ethereum’s decentralization, saying the <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a> represents a “novel spectacle of bourgeois upheaval.”</p>
 <p>Solana is one of the first victims of the FTX collapse as the total value locked (TVL) in the ecosystem plunged 96% since its all-time highs, according to data from DefiLlama. As of press time, Solana’s TVL is at $380 million, representing a staggering decrease from more than $10 billion in November 2022.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Whale moves 1.6m worth of Solana as asset hits top trending list
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-labs-unveils-incubator-for-web3-startups-eyeing-its-network-tbt68105.html">https://thebittimes.com/solana-labs-unveils-incubator-for-web3-startups-eyeing-its-network-tbt68105.html</a></p>

Solana Labs unveils incubator for web3 startups eyeing its network

TheBitTimes

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