The third chapter of the accelerator initiative promises growth for emerging blockchain startups during Korea Blockchain Week.
Cronos Labs is setting the stage for its next chapter, opening applications for the 3rd cohort of the Cronos Accelerator Program with $100 million of investment backing. This initiative, unveiled during Korea Blockchain Week on September 4, seeks to provide mentorship and funding to a select number of emerging crypto projects.
The accelerator program, spanning 12 weeks, promises a holistic growth environment for up to 8 select startups at any given time. Beyond funding, the enrolled ventures will have access to master classes, marketing insights, and introductions to pivotal industry partners. A demo day earmarked at the conclusion of the program promises to provide startups an opportunity to commence fundraising deliberations.
This program specifically looks to build up projects that work on the intersection between AI and crypto, supporting teams that leverage the efficiency of AI to propel their products into the crypto market. Cronos has also secured top-tier partners and mentors for the program including Amazon Web Services (AWS), Protocol Labs, Hacken and Covalent.
Cronos’s vision for this program is clear-cut: to showcase projects across different industry verticals that focus on creating real-world and practical use cases, especially those aimed at amplifying the adoption and practicality of dapps and AI.
Speaking on the AI initiative of this chapter is Ken Timsit, managing director of Cronos. He remarked on the program’s aim to foster a bridge between AI and crypto, stating, “The Cronos Accelerator Program will nurture outstanding ideas from outstanding startups whose innovations have the potential to radically reshape the way AI and decentralized protocols interact.”
Charlotte Kapoor, head of innovation Programs at Cronos, reflected on the overwhelming response to their prior accelerator chapters:
“We’re looking for novel proposals that solve real problems while demonstrating ingenious uses for AI, blockchain, and decentralized technology.”
Industry leaders including Google Cloud, Amazon Web Services (AWS), PeckShield and CertiK are backing this program to boost support from the blockchain and AI ecosystem. Both AWS and Google Cloud are on board to offer specialized workshops and mentorship.
Past participants, like the Earn Network, have secured significant private funding following the Cronos Accelerator Program, raising $2.7M for its investment marketplace. Selected teams for the third chapter will undergo a three-month mentorship from Q1 2024, providing them with resources to actualize their innovations.
