Blockchain startup accelerator Cronos Labs has announced the opening of applications for its second call for the $100 million Cronos Accelerator Program.
The program, which begins on April 24, 2023, will run for 12 weeks and provide selected projects with seed funding of USD 30,000. Furthermore, heParticipants will have the opportunity to secure up to $300,000 in seed funding from Cronos Labs and receive mentoring, master classes, and support from industry experts. The program focuses on the decentralized finance (DeFi), GameFi, SocialFi, and Infrastructure verticals and will accept applications until March 24, 2023.
The selection of projects for the second stage of the Accelerator Program will be based on several factors, including their market potential, the experience of the leadership team, compatibility with the market and compatibility with the Cronos ecosystem.. The primary goal of the program is to foster innovation and growth within the Cronos ecosystem in an effort to drive widespread adoption of Web3.
Ken Timsit, director of Cronos Labs, stated that the success of the first generation of the accelerator program justified the release of a second generation.
The second generation of the Accelerator Program will be led by experienced Web3 professionals, who have designed the program to offer a full range of benefits to support founders in developing their Web3 decentralized applications.
In June 2022, Crypto.com’s Cronos launched its $100 million accelerator program for DeFi and Web3 projects, with the goal of supporting early-stage crypto projects with mentoring, funding, and growth opportunities.
Some of the companies supporting the Cronos Accelerator Program include Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks.
Crypto.com originally launched the Cronos blockchain in November 2021.
Blockchain accelerator programs with a focus on Web3 development have grown over the last year. As Cointelegraph reported, the Web3 Beacon accelerator recently wrapped up its first generation with 15 companies graduating. The second cohort plans to offer up to USD 8 million to 32 startups.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.