Cronos

<p>Cronos Labs, a Web3 startup accelerator, is embarking on the hiring phase of its accelerator program with the objective of nurturing early-stage projects through financial support and mentorship. The endeavor has been bolstered by a substantial $100 million investment commitment aimed at fostering the growth of crypto startups.</p><p>In an<a href="https://blog.cronos.org/p/cronos-labs-100-million-backed-accelerator" rel="noopener noreferrer nofollow"> official announcement</a> published to its website on Tuesday, Cronos Labs underscored the accelerator’s primary mission: to cultivate startups poised to “shape the future of Web3.” Moreover, the program seeks projects with a pragmatic focus on creating use cases that can drive the adoption of decentralized applications (DApps) genuinely, with a preference for authentic user engagement over bot-driven interactions.</p><h2 id="header-0">Startup selection</h2><p>The recruitment phase for the program officially kicked off on Monday, coinciding with the commencement of Korea Blockchain Week, scheduled to run until September 10. Cronos Labs will select eight startups to partake in a 12-week remote program laden with mentorship, master classes, marketing and financial support, and introductions to strategic partners. This rigorous journey culminates in a demo day designed to initiate discussions around fundraising opportunities.</p><p>Charlotte Kapoor, the Head of Innovation Programs at Cronos, remarked on the immense interest previous accelerator iterations garnered, describing the number and quality of applicants as “overwhelming.” Kapoor emphasized the hunt for groundbreaking proposals capable of tackling real-world challenges while showcasing innovative applications of AI, blockchain, and decentralized technologies.</p><p>Kapoor stated: “The number and quality of applicants to our previous accelerator program was overwhelming, and it’s going to be tough whittling the entrants for cohort three down to a final shortlist. With the Cronos Accelerator Program poised to open to applicants, we extend an open invitation to builders with original concepts and the willingness to turn them into a working product. We’re looking for novel proposals that solve real problems while demonstrating ingenious uses for AI, blockchain, and decentralized technology.”</p><h2 id="header-1">Heavyweight mentors</h2><p>Cronos has enlisted the expertise of a diverse array of industry leaders to serve as mentors and partners within the program. Among the notable contributors are technology titans like Google Cloud and Amazon Web Services (AWS), as well as blockchain security experts CertiK and PeckShield. Additionally, companies such as Protocol Labs, Hacken, and Covalent have also thrown their weight behind the accelerator program.</p><p>Cronos, which was originally established by Singaporean crypto platform Crypto.com, recently received a further boost when world-renowned video game publisher Ubisoft became a Cronos network validator. Ubisoft has also been involved with the Cronos Accelerator project as a venture mentor.</p><h2 id="header-2">State funding for Web3</h2><p>In parallel, funding support for Web3 technology has been gaining steady momentum. Just last month the Monetary Authority of Singapore (MAS), the city-state’s central bank and financial regulator,<a href="https://medium.com/&#64;coinness.gl/singapore-pledges-112m-to-boost-fintech-solutions-including-web3-b14ea8f3f75b" rel="noopener noreferrer nofollow"> committed</a> a significant $150 million Singapore dollars ($112 million) to support various financial technology solutions, including Web3. This initiative aims to nurture innovation by providing backing to projects harnessing cutting-edge technology.</p><p>The development of the crypto and blockchain ecosystem has been non-linear and imperfect, but accelerator programs like this one are likely to result in the emergence of pioneering startups that will shape the future of Web3 while fostering genuine adoption and practical use cases.</p>

Cronos Labs $100 Million Accelerator Program Enters Hiring Phase

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