Cronos, a blockchain ecosystem created by significant crypto exchange Crypto.com, has announced the introduction of an accelerator program to accelerate breakthroughs in areas such as decentralized finance (DeFi), Web3, and Metaverse.
The Cronos Accelerator Program, which is driving the effort, is supported by $100 million and aims to assist crypto companies in the seed. Pre-seed phases are looking for mentoring, finance, and development. According to the statement, projects selected for the accelerator program will be paired with compatible mentors.
Key Highlights:
- Cronos, a subsidiary of Crypto.com, has announced an accelerator program to assist developers in accelerating the growth of the ecosystem.
- The Cronos Accelerator Program is supported by the Cronos Labs Ecosystem Fund, a $100 million budget.
- It will fund $100,000 to $300,000 in early-stage blockchain startups and provide mentorship.
Cronos hopes to choose three or four cohorts every year, each with ten businesses, for the 10-week program, with the first cohort starting in July.
According to Cronos Managing Director Ken Timsit, participating ventures may expect to collect between $500,000 and $2 million in early funding from Cronos laboratories and third-party investors.
According to Timsit, the startup program intends to develop businesses that appeal to crypto consumers. He stated, “Through Cronos Accelerator, we want to enhance the potential of projects that sincerely want to help grow the ecosystem by providing support in almost every area of their operations. In the current climate, it is more important than ever to put our heads down and start building aggressively.”
Additional Support Partners
The Cronos Accelerator program has partnered with several well-known companies to provide mentorship, money, and seminars to participating entrepreneurs and projects. The program partners are mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks.
