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Cronos launches $100M Cronos Accelerator Program to boost ecosystem building
The Decentralized Finance (DeFi) and Web3 gaming-focused Blockchain network by Crypto.com, Cronos has launched the Cronos accelerator program intending to help developers and builders accelerate the ecosystem's growth.
Cronos brings Cronos Accelerator Program
According to the official announcement, the Cronos Accelerator Program is funded by the $100 million Cronos Labs Ecosystem Fund. It will provide investments of $100,000 to $300,000 and guidance to early-stage blockchain projects.Apart from direct funding, the Cronos Accelerator Program will provide investment opportunities to the projects from its established venture capital partners. It has also planned to grant additional funding to the early-stage projects for security audits, node services, and gas fees, along with fast-tracking with its audit partners.
According to the announcement, the participating projects will also get marketing support and access to the growing Cronos user base and business advisory from Cronos Labs and industry mentors.
The managing director at Cronos, Ken Timsit, said that the company aims 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.”
The announcement revealed that Cronos would feature an average of ten startups per cohort with around three to four cohorts per year. Notably, the company is expecting to start the first cohort in July 2022.
Partnerships will offer additional support
The Cronos Accelerator program has joined hands with multiple big names that will support participating startups and projects through mentorship, investments, and workshops. Some of the partners in the program include Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks.Continue reading by joining Cryptonary Pro
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