Blockchain startup accelerator Cronos Labs has introduced the opening of purposes for its second cohort of the $100 million-backed Cronos Accelerator Program.
This system, which begins on April 24, 2023, will final for 12 weeks and supply chosen tasks with upfront seed funding of $30,000. As well as, members may have the chance to safe as much as $300,000 in seed funding from Cronos Labs and obtain mentoring, masterclasses and assist from business specialists. This system is concentrated on the decentralized finance (DeFi), GameFi, SocialFi, and Infrastructure verticals and can settle for purposes till March 24, 2023.
The collection of tasks for the second cohort of the Accelerator Program can be based mostly on varied elements, together with their market potential, the management staff’s experience, market compatibility and compatibility with the Cronos ecosystem. The principle focus of this system is to encourage innovation and development inside the Cronos ecosystem in an effort to drive the broader adoption of Web3.
Ken Timsit, head of Cronos Labs, stated the success of the accelerator program’s inaugural cohort supplied the rationale for launching a second cohort.
The second cohort of the Accelerator Program can be guided by skilled Web3 professionals, who’ve designed this system to supply a full vary of advantages to assist founders in growing their Web3 decentralized purposes.
Associated: Sandeep Nailwal-backed Web3 accelerator launches demo day for first cohort
In June 2022, Crypto.com’s Cronos launched its $100M accelerator program for DeFi and Web3 tasks, with the aim of supporting early-stage crypto tasks with mentorship, funding and development alternatives.
Among the corporations supporting the Cronos Accelerator Program embody Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks.
Crypto.com initially launched the Cronos blockchain in November 2021.
Blockchain accelerator packages with a concentrate on Web3 growth have grown over the previous 12 months. As reported by Cointelegraph, Web3 accelerator Beacon lately wrapped up its first cohort with 15 corporations graduating. The second cohort plans to supply as much as $8 million to 32 startups.
