Cronos Launches $100M Accelerator Program to Support Web3 Startups

Cronos blockchain network, developed by Crypto.com, has launched a $100 million accelerator program to help developers and builders accelerate the ecosystem’s growth. Cronos Accelerator Program According to an official announcement, Cronos, the Ethereum Virtual Machine-compatible network, has launched a $100 million-funded startup accelerator to support emerging blockchain companies. 4/ Our ultimate goal is to see your project thrive and grow alongside @cronos_chain. We can't wait to see the innovation that comes out of this program. Find out more about the Cronos Accelerator Program here 👇https://t.co/uC60vboo8y — Cronos (@cronos_chain) June 7, 2022 The blockchain network plans to select three or four cohorts per year, with 10 startups per cohort, to participate in the 10-week program, with the first being expected in July. Participating projects can expect to raise between $500,000 to $2 million in initial investments from Cronos labs and third-party investors. In addition, Cronos Labs will also give some projects access to about $100,000 to $300,000 in seed investments as well as access to Cronos communities and other marketing opportunities. Commenting on the initiative, Cronos Managing Director Ken Timsit, said: “Through Cronos Accelerator, we want 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 i...