The Web3 startup accelerator that focuses on Decentralized Finance (DeFi) and blockchain games – Cronos Labs – said that the recruitment phase of the Cronos Accelerator Program began on September 4. The entity has previously partnered with several companies, including Google Cloud , Amazon Web Services. (AWS), and PeckShield, to support the launch of the scheme.
The price of the native token of the ecosystem – CRO – briefly increased by about 5% after the news broke out before quickly falling to the valuation registered in the last few days.
Expect High Demand for the Third Cohort
According to a document seen by CryptoPotato, the blockchain startup has launched its third cohort for the Cronos Accelerator Program. The scheme aims to help early-stage cryptocurrency projects by providing mentorship, marketing and financial support, master classes, and introducing strategic partners.
More specifically, the Cronos Accelerator Program is a 12-week remote initiative that runs up to eight startups at a time. It is backed by investments worth $100 million, while Cronos Labs has signed several high-end deals with Google Cloud, Amazon Web Services (AWS), Protocol Labs, PeckShield, and Certik to support its development.
Speaking about the launch of the recruitment phase was Ken Timsit (Managing Director of Cronos), who said that the project “will nurture unique ideas from unique startups whose innovations have the potential to radically change also in the way AI and decentralized protocols interact.”
“We are excited to see the concepts created by the teams admitted to cohort three and about giving them the tools they need to succeed,” he added.
Charlotte Kapoor – Head of Innovation Programs at Cronos – noted that the number of applicants willing to participate in the program in the last two rounds was “very large.” In his view, “cutting down the entrants for the three groups to a final shortlist” will be a challenging task.
Cronos has previously received over 350 applications for the second phase of its program and is expected to witness high demand during the current cohort as well.
“With the Cronos Accelerator Program ready to open to applicants, we extend an open invitation to founders with original concepts and the willingness to turn them into a working product. We are looking for novel proposals that solve real problems while demonstrating smart uses for AI, blockchain, and decentralized technology,” Kapoor concluded.
The Birth of the Project
Web3 startup backed by industry leader Crypto.com – Cronos – introduced program last summer to give developers more stimulus to continue building.
“Through the Cronos Accelerator, we want to improve 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 the our heads and start building aggressively,” the weather explained.
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