Web3 startup accelerator Cronos Labs has launched the third cohort of its accelerator program which goals to assist early-stage initiatives by offering funding alternatives and mentorship. The scheme is backed by $100 million in funding that can be used to assist crypto startups.
In an announcement despatched to Cointelegraph, Cronos Labs highlighted that the accelerator’s aim is to nurture startups which have the potential to “form the way forward for Web3.” Moreover, Cronos is searching for initiatives that target creating sensible use circumstances that may push the adoption of decentralized purposes (DApps) that may appeal to real customers somewhat than bots.
Thrilling information for blockchain devs! Cronos Labs is launching a $100M accelerator program to assist cutting-edge blockchain options. Be part of this system to achieve mentorship, funding, and sources to your venture. Apply now on the official Cronos Labs web site! #Blockchain pic.twitter.com/ZgS39IRg9C
— CryptoEmery (@CryptoEmery1) September 5, 2023
This system’s recruitment section started on Sept. 4, coinciding with the beginning of the Korea Blockchain Week, which can run till Sept. 10. Cronos Labs will select eight startups that may take part in a 12-week distant program that may have mentorship, grasp courses, advertising and marketing and monetary assist and introduction to strategic companions. On the finish of this system, there can be a demo day that may begin discussions on fundraising.
In a press release, Charlotte Kapoor, the pinnacle of innovation applications at Cronos, stated that the quantity and high quality of candidates to earlier iterations of the accelerator was “overwhelming” and stated that it’s going to be robust to create a remaining shortlist. “We’re searching for novel proposals that resolve actual issues whereas demonstrating ingenious makes use of for AI, blockchain, and decentralized know-how,” Kapoor added.
Cronos tapped numerous corporations to change into mentors and companions in this system. These embrace Google Cloud, Amazon Internet Providers (AWS) and blockchain safety companies CertiK and PeckShield.
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In the meantime, funding assist for Web3 know-how has been slowly gaining momentum. On Aug. 7, the Financial Authority of Singapore (MAS), the nation’s central financial institution, dedicated $112 million to assist numerous monetary know-how options like Web3. The scheme will foster innovation by supporting initiatives that use cutting-edge tech.
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