June 24, 2024
Cronos Labs kicks off third $100 million Web3 startup accelerator.
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Cronos Labs Launches Third Cohort of $100 Million Web3 Startup Accelerator Program

Cronos Labs, a Web3 startup accelerator, has initiated its third cohort of the accelerator program. This program aims to assist early-stage projects by offering funding opportunities and mentorship. It’s supported by a substantial $100 million investment designated for crypto startups. Cronos is specifically seeking projects that prioritize developing practical use cases capable of driving the adoption of decentralized applications (DApps) that can attract genuine users as opposed to bots.

The recruitment phase for this program commenced on September 4, coinciding with the start of Korea Blockchain Week, which is scheduled to run until September 10. Cronos Labs will ultimately select eight startups to participate in a 12-week remote program featuring mentorship, master classes, marketing and financial support, and introductions to strategic partners. Following this program, there will be a demo day that will kickstart discussions regarding fundraising.

https://twitter.com/CryptoEmery1/status/1698867587495637434?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1698867587495637434%7Ctwgr%5E595b041b11232365e600294f5820632132789241%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcronos-labs-begins-recruitment-for-100-million-accelerator-program

Charlotte Kapoor, the head of innovation programs at Cronos, noted in a statement that previous iterations of the accelerator attracted an overwhelming” number and quality of applicants, making creating a final shortlist challenging. Kapoor emphasized the search for innovative proposals that address real problems while showcasing ingenious applications of AI, blockchain, and decentralized technology.

Cronos has enlisted various companies as mentors and partners for the program, including Google Cloud, Amazon Web Services, and blockchain security firms CertiK and PeckShield. Additionally, companies such as Protocol Labs, Hacken, and Covalent are actively participating in the accelerator program. Meanwhile, support for Web3 technology in terms of funding has been gradually gaining momentum, with the Monetary Authority of Singapore committing $112 million on August 7 to back various financial technology solutions, including Web3, to encourage innovation utilizing cutting-edge technology.

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Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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