Blockchain startup accelerator Cronos Labs has introduced the opening of functions 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 can have the chance to safe as much as $300,000 in seed funding from Cronos Labs and obtain mentoring, masterclasses and assist from trade specialists. This system is concentrated on the decentralized finance (DeFi), GameFi, SocialFi, and Infrastructure verticals and can settle for functions till March 24, 2023.
The number of tasks for the second cohort of the Accelerator Program might be based mostly on varied components, together with their market potential, the management crew’s experience, market compatibility and compatibility with the Cronos ecosystem. The principle focus of this system is to encourage innovation and progress throughout 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 offered the rationale for launching a second cohort.
The second cohort of the Accelerator Program might 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 functions.
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 progress 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 applications with a concentrate on Web3 improvement have grown over the previous yr. 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.