$100 million Cronos Accelerator Program to help Crypto.com ecosystem developing

    08 Jun 2022
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    Cronos, the DeFi and Web3 gaming-focused blockchain network by Crypto.com, has launched the Cronos Accelerator Program aiming to help developers and builders accelerate the ecosystem’s growth. The Cronos Accelerator Program is funded by the $100 million Cronos Labs Ecosystem Fund to provide investments and guidance to early-stage blockchain projects.

    The Cronos Accelerator Program is funded by the $100 million Cronos Labs Ecosystem Fund, according to the official announcement. It will provide investments of $100,000 to $300,000 and guidance to early-stage blockchain projects.

    Aside from direct funding, the Cronos Accelerator Program will provide investment opportunities to the projects from its established venture capital partners. It has also planned to grant additional funding to the early-stage projects for security audits, node services, and gas fees, along with fast-tracking with its audit partners.

    The participating projects will also get marketing support and access to the growing Cronos user base and business advisory from Cronos Labs and industry mentors, the announcement said.

    Ken Timsit, the managing director at Cronos, said that the company aims to “enhance 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 our heads down and start building aggressively.”

    Cronos also would feature an average of ten startups per cohort with around three to four cohorts per year, the announcement revealed. Noteworthy that the company is expecting to start the first cohort in July 2022.

    Recently, the Cronos Accelerator program has joined hands with multiple big names that will support participating startups and projects through mentorship, investments, and workshops. Some of the partners in the program include Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks.

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