Cronos Labs begins recruitment phase for $100M accelerator program

Web3 startup accelerator Cronos Labs has launched the 3rd cohort of its accelerator programme which aims to enactment early-stage projects by providing backing opportunities and mentorship. The strategy is backed by $100 cardinal successful concern that volition beryllium utilized to enactment crypto startups. 

In an announcement sent to Cointelegraph, Cronos Labs highlighted that the accelerator's extremity is to nurture startups that person the imaginable to "shape the aboriginal of Web3." Furthermore, Cronos is looking for projects that absorption connected creating applicable usage cases that tin propulsion the adoption of decentralized applications (DApps) that tin pull genuine users alternatively than bots.

Exciting quality for blockchain devs! Cronos Labs is launching a $100M accelerator programme to enactment cutting-edge blockchain solutions. Join the programme to summation mentorship, funding, and resources for your project. Apply present connected the authoritative Cronos Labs website! #Blockchain pic.twitter.com/ZgS39IRg9C

The program's recruitment signifier began connected Sept. 4, coinciding with the commencement of the Korea Blockchain Week, which volition tally until Sept. 10. Cronos Labs volition take 8 startups that volition enactment successful a 12-week distant programme that volition person mentorship, maestro classes, selling and fiscal enactment and instauration to strategical partners. At the extremity of the program, determination volition beryllium a demo time that volition commencement discussions connected fundraising. 

In a statement, Charlotte Kapoor, the caput of innovation programs astatine Cronos, said that the fig and prime of applicants to erstwhile iterations of the accelerator was “overwhelming” and said that it’s going to beryllium pugnacious to make a last shortlist. “We’re looking for caller proposals that lick existent problems portion demonstrating ingenious uses for AI, blockchain, and decentralized technology,” Kapoor added.

Cronos tapped assorted companies to go mentors and partners successful the program. These see Google Cloud, Amazon Web Services (AWS) and blockchain information firms CertiK and PeckShield. Apart from these, companies similar Protocol Labs, Hacken and Covalent are besides progressive successful the accelerator program. 

Related: Private ID verification wins Binance Web3 world show

Meanwhile, backing enactment for Web3 exertion has been dilatory gaining momentum. On Aug. 7, the Monetary Authority of Singapore (MAS), the country’s cardinal bank, committed $112 cardinal to support assorted fiscal exertion solutions similar Web3. The strategy volition foster innovation by supporting projects that usage cutting-edge tech.

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