Cronos to accept second cohort of Cronos Accelerator Program

The program begins on April 24 and will last for 12 weeks, with selected projects give upfront seed funding of $30,000

Blockchain startup accelerator Cronos Labs has announced the opening of applications for its second cohort of the $100mln-backed Cronos Accelerator Program.

The program starts on April 24 and will continue for 12 weeks, with selected projects providing upfront seed funding of $30,000. Moreover, participants will have the advantage to secure up to $300k in seed funding from Cronos Labs and receive mentoring, masterclasses and assistance from experts across the industry. The program is aimed at the decentralized finance (DeFi), GameFi, SocialFi and Infrastructure verticals and will accept applications until March 24.

The selection of projects for the second cohort of the Accelerator Program will depend on a number of factors such as their market potential, the expertise of the leadership team, market compatibility and compatibility with the Cronos ecosystem. The primary focus of the program is to encourage creativity and growth within the Cronos ecosystem in an attempt to drive the wider adoption of Web3.

According to Ken Timsit, head of Cronos Labs, the success of the accelerator program’s initial cohort provided the grounds for launching a second cohort.

The second cohort of the Accelerator Program will be led by experienced Web3 professionals, who have designed the program to offer a full range of advantages to assist founders in developing their Web3 decentralized applications.

In June, Crypto.com’s Cronos launched its $100 million accelerator program for DeFi and Web3 projects, with the aim of assisting early-stage crypto projects with mentorship, funding and growth opportunities.

Some of the firms supporting the Cronos Accelerator Program are Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks.

Crypto.com first launched the Cronos blockchain in November 2021.