Cronos Labs Launches Second Cohort of Accelerator Program to Advance Web3 Dapp Development

Selected projects will go through a three-month accelerator program and receive funding of US$30,000

LONDON, Jan. 31, 2023 /PRNewswire/ -- Cronos Labs, a blockchain startup accelerator that focuses on decentralized finance, blockchain games, and the development of the Cronos ecosystem, today announced the opening of applications for the second cohort of the flagship US$100M-backed Cronos Accelerator Program. 

The second cohort of the three-month Accelerator Program is set to commence on 24 April 2023, selected projects will go through a 12-week acceleration program and receive upfront seed funding of USD $30,000. Participants will also have the chance to secure up to US$300K in further seed funding from Cronos Labs, as well as attend mentoring sessions, bespoke masterclasses, and fireside chats with industry experts. Further tailored benefits include marketing and public relations support, strategic advising, auditing support, introductions to the Crypto.com Capital team, and networking opportunities with leading crypto venture capital funds.

Focusing on the priority verticals of DeFi, GameFi, SocialFi and Infrastructure, the second cohort of the Accelerator Program will be accepting applications from this week onwards until the closing date on 24 March 2023. Projects will be carefully selected based on the criteria of market potential, the experience of the leadership team, market fit, and synergies with Cronos chain. The program remains focused on fostering innovation and growth within the Cronos ecosystem, the leading Cosmos-built and Ethereum virtual machine-compatible blockchain, to help propel the widespread adoption of Web3.

Charlotte Kapoor who recently joined the team as the Head of Innovation Programs at Cronos Labs commented, "Scaling up a startup is no small feat, especially on the frontier of Web3. As such, this program has been designed by industry veterans who understand the potential pain points that projects face, through and through. With this in mind, we have structured the program to provide a comprehensive suite of benefits to guide founders on their journey in the development of Web3 dapps, as they leverage the many opportunities that DeFi and GameFi continue to offer." Charlotte brings with her five years of Web3 expertise to grow and support the development of the Accelerator Program.

Ken Timsit, Head of Cronos Labs said, "The overwhelming response we received for our inaugural cohort of the Cronos Accelerator Program was a clear signal of our community's continued interest in growing the Cronos ecosystem. Spurred by this, the second cohort will build upon the success of its predecessor to enhance the Cronos ecosystem. Through this Accelerator and Cronos Labs' other initiatives including ecosystem grants, hackathons, and the incubator project, we are invested in the future of the Cronos chain and as a result of these efforts, the number of innovative dapps on Cronos such as D.G. Pals, VVSgotchi, Minted, and Eyeball Pool, continues to rise, helping propel the mainstream adoption of Web3 by providing appealing offerings to everyday users."

In addition to the mentorship and seed funding opportunities, the Cronos Accelerator Program will also host a Demo Day in early July 2023, where shortlisted participants will pitch their projects to investment partners of the program.

Cronos launched the Accelerator Program in June 2022, and its first cohort, comprising nine startups selected from over 300 applicants, commenced the following month featuring partners such as Mechanism Capital, Crypto.com Capital, OKX Blockdream Ventures, Ubisoft and Longhash Ventures, as well as mentors from Cronos Labs, Spartan Labs, and IOSG Ventures among others. With three to four cohorts each year, the Cronos Accelerator Program aims to provide ongoing support through funding and guidance to the most promising new projects in Web3.

About Cronos Chain

Cronos (cronos.org) is the first EVM-compatible Layer-1 blockchain network built on the Cosmos SDK, supported by Crypto.com, Crypto.org and more than 400 app developers and partners.

Cronos is building an open ecosystem where developers can create their own DeFi and GameFi applications, targeting a base of 80+ million users globally. In June 2022, Cronos Labs launched a $100M Accelerator Program to help developers build new projects and the future of Web3 within the Cronos ecosystem.

When developers build on Cronos, they can leverage all Ethereum developer tools (i.e. Solidity, Truffle, Hardhat, OpenZeppelin, Web3.js, ethers.js, ChainSafe Gaming SDK); leading crypto wallets (i.e. MetaMask, Crypto.com Defi Wallet, Trust Wallet); wrapped versions of the world's top 50 cryptocurrencies; Cronos Play, a suite of developer tools for Unity, C++ and Unreal engine; inter-blockchain communication (IBC) cross-chain connectivity to Cosmos chains; and a rich ecosystem of composable DeFi and GameFi dapps.