This status happens when the CNCF Technical Oversight Committee (TOC) votes to accept a given project. It helps development teams manage, monitor and operate Kubernetes in a way that its team promises will require less technical knowledge and time. Knative was founded in 2018 by Google and subsequently developed in partnership with IBM, Red Hat, VMWare and SAP.

Link: CNCF now incubating Knative for serverless & event-driven apps
via http://www.computerweekly.com