Web3 startup accelerator Cronos Labs has launched the third session of its accelerator program, which aims to support early-stage projects by providing funding and mentoring opportunities. The program is backed by a $100 million investment that will be used to support crypto startups.
In a statement sent to Cointelegraph, Cronos Labs noted: The accelerator’s goal is to train startups with the potential to “shape the future of Web3”.. Additionally, Cronos is looking for projects that focus on creating practical use cases that can foster decentralized application adoption (application) are capable of attracting real users rather than bots.
Exciting news for blockchain developers! Cronos Labs is launching a $100 million accelerator program to support cutting-edge blockchain solutions. Join the program to receive mentorship, funding and resources for your project. Apply now from the Cronos Labs official website!
Exciting news for blockchain developers! Cronos Labs is launching a $100 million accelerator program to support cutting-edge blockchain solutions. Join the program to gain mentorship, funding and resources for your project. Apply now from the official Cronos Labs website! #Blockchain pic.twitter.com/ZgS39IRg9C
— CryptoEmery (@CryptoEmery1) September 5, 2023
The recruiting phase of the program kicked off on September 4, coinciding with the start of Korean Blockchain Week, which runs until September 10. Cronos Labs will select eight startups to participate in the 12-week remote program that includes mentoring, master classes, financial and marketing support, and meeting strategic partners. At the end of the program, A demonstration day is planned to spark discussions on fundraising.
Charlotte Kapoor, head of innovation programs at Cronos, said in a statement that the number and quality of applicants for previous versions of the accelerator were “too large” and it would be difficult to establish a final selection. “We are looking for innovative proposals that solve real problems and demonstrate the ingenious use of artificial intelligence, blockchain and decentralized technology,” Kapoor added.
Cronos has chosen many companies as mentors and program partners. Among them, Google Cloud, Amazon Web Services, and blockchain security firms CertiK and PeckShield. In addition to these companies, companies such as Protocol Labs, Hacken and Covalent are also included in the accelerator program.
Meanwhile, financial support for Web3 technology is slowly gaining momentum. On August 7, the country’s central bank, the Monetary Authority of Singapore, set aside $112 million for support. various financial technology solutionsWeb3 included. The program will encourage innovation by supporting projects using the latest technologies.
Translation of Walter Rizzo