Cronos Labs, a blockchain startup accelerator that focuses on decentralised finance and blockchain games is opening applications for the second group of its $100 million-backed Cronos Accelerator Program.
The first group was launched in June 2022 and the second will commence on April 24, 2023. This will go on for three months. All selected projects will go through a 12-week acceleration program and will receive an upfront seed funding of $30,000.
All participants will be allowed to amass up to $300,000 in further seed funding from Cronos Labs. They will also be able to attend mentoring sessions, individual masterclasses and fireside conversations with industry experts.
Charlotte Kapoor, Head of Innovation Programs at Cronos Labs commented, “Scaling up a startup is no small feat. Especially on the frontier of Web3. As such, this program has been designed by industry veterans who understand the potential pain points that projects face. With this in mind, we have structured the program to provide a comprehensive suite of benefits to guide founders on their journey in the development of Web3 dapps, as they leverage the many opportunities that DeFi and GameFi continue to offer.”
Crono Labs will prioritise DeFi, GameFi, SocialFi and Infrastructure. It is currently accepting applications for the second group of its Accelerator Program. Application acceptance will stop on March 24, 2023.
A set criteria, which includes market potential, market fit and synergy with the Cronos chain will be under consideration before selecting projects. In addition to the experience of the leadership team.
Ken Timsit, Head of Cronos Labs said. “The overwhelming response we received for our inaugural cohort of the Cronos Accelerator Program was a clear signal of our community’s continued interest in growing the Cronos ecosystem. Spurred by this, the second cohort will build upon the success of its predecessor to enhance the Cronos ecosystem. Through this Accelerator and Cronos Labs’ other initiatives including ecosystem grants, hackathons, and the incubator project. We are invested in the future of the Cronos chain and as a result of these efforts, the number of innovative dapps on Cronos such as D.G. Pals, VVSgotchi, Minted, and Eyeball Pool, continue to rise, helping propel the mainstream adoption of Web3 by providing appealing offerings to everyday users.”
Apart from the mentorship and seed funding opportunities, the Accelerator Program will also host a Demo Day in July. Where every shortlisted participant will pitch their projects to the program’s investment partners.