Cronos, a blockchain ecosystem built by major cryptocurrency exchange Crypto.com, announced the launch of an accelerator program to accelerate advancements in the decentralized finance (DeFi) space, Web3, and the metaverse, among others.
Driving the initiative The Cronos Accelerator Program is backed by $100 million to help cryptocurrency projects in the seed and pre-seed stages that are looking for mentorship, funding, and growth. According to the announcement, projects shortlisted for the accelerator program will be matched with compatible mentors.
Some of the prominent investment partners backing the Cronos acceleration program include Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks. Cronos plans to incorporate other partners in the future. Cronos CEO Ken Timsit clarified the schedule:
“In the current climate, it’s more important than ever to put your head down and start building aggressively.”
Timsit’s goal is to enhance the potential of projects by providing end-to-end support in project operations. As part of this initiative, Cronos’ business accelerator subsidiary, Cronos Labs organizes weekly workshops that cover various aspects of creating cryptocurrency projects.
Projects that aspire to this have the opportunity to obtain between USD 100,000 and USD 300,000 of initial investment, in addition to having the option of receiving additional grants. In addition to mentoring and other marketing initiatives, the projects will be able to integrate into the Crypto.com ecosystem, which includes a DeFi wallet, cryptocurrency exchange, and non-fungible token marketplace.
The Philippines Department of Science and Technology (DOST) has recently launched a training program for researchers to test the feasibility of blockchain technology in the healthcare, financial support, and emergency relief sectors.
DOST official Enrico Paringit highlighted the department’s intention to “create non-cryptocurrency applications” while also producing blockchain development specialists to drive internal government initiatives.
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