Cronos Labs Opens Its Third Accelerator Cohort With $100M Backing

With the start of Korea Blockchain Week, Cronos Labs has announced the third chapter of its Cronos Accelerator Program.

A metal robot staring at a book with galactic Cronos display.

The Cronos Accelerator Program is set for its third run, supporting innovative blockchain startups.

With the start of Korea Blockchain Week, Cronos Labs has announced the third chapter of its Cronos Accelerator Program. Backed by $100 million, the initiative seeks to foster early-stage crypto projects, providing them with the tools to succeed.

The 12-week online program will encompass up to eight startups that focus on bridging AI and crypto, especially looking to attract “projects utilizing AI to provide unparalleled speed and efficiency that will help take products to market.” 

With support from companies such as Google Cloud, Amazon Web Services (AWS), PeckShield, and Certik, these ventures aim to help developers push the boundaries of dApp adoption, providing mentorship, masterclasses, marketing guidance and networking opportunities with key strategic partners Protocol Labs, Hacken, and Covalent.

A culminating demo day will offer startups a platform to showcase their progress, potentially leading to further investment discussions.

Charlotte Kapoor, head of Innovation Programs, highlighted the growth in applications. She noted a 43% increase from the program’s inaugural phase to its second as Cronos looks “for novel proposals that solve real problems while demonstrating ingenious uses for AI, blockchain, and decentralized technology.”

The program prioritizes startups with an eye on shaping the Web3 landscape. By honing in on practical applications, these ventures aim to push the boundaries of dApp adoption, bridging the gap between innovative tech and real-world solutions.

Startups that make the cut for the third chapter will embark on their accelerator journey in Q1 2024, equipped with the resources and guidance necessary to bring their ideas to fruition.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Alex Costa

Alex Costa is a crypto writer and investor specializing in researching, analyzing and reporting on promising small-cap projects that are gaining traction in the industry. He has been in crypto since 2018, when he began looking for hidden gems in crypto. Today, he is dedicated to finding the next top performing NFTs and tokens.