Cronos Labs Starts Its $100 Million Accelerator Project’s Recruitment Phase

Cronos Labs, a Web3 venture accelerator platform, has released the 3rd cohort of the accelerator project operating under it. The respective project targets to provide support for the early-stage projects with the provision of mentorship and funding opportunities. A $100 million investment that will support crypto ventures is responsible for backing the project.

Cronos Labs Initiates Recruitment Stage for Its $100M Accelerator Project

Cronos Labs recently discussed this development and said that the purpose of the accelerator project is to promote capable ventures. It will reportedly focus on the startups that can shape the Web3 sector’s future. In addition to this, Cronos pursues projects that pay heed to the development of practical use cases. This would reportedly increase the decentralized applications’ adoption.

Moreover, the respective development would be assistive in attracting genuine consumers in comparison with the bots. The recruitment phase of the project has to start on the 4th of this month. This is simultaneous with the beginning of Korean Blockchain Week. The respective week will continue till the 10th of September. Cronos Labs has a plan to select 8 startups. The respective ventures will take part in a remote project comprising twelve weeks.

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That project will include mentorship, financial support, marketing, and master classes, along with overviews of the strategic collaborators. At the program’s end, the platform intends to organize a demo day for discussions regarding fundraising. Cronos’ head of innovation Charlotte Kapoor discussed this in a recent statement.

Executive Says Platform Eyes Novel Proposal to Solve Real Issues to Provide More Assistance

The executive mentioned that the quality and number of applicants to the accelerator’s iterations were overwhelming. As per Kapoor, the development of the conclusive shortlist appears to be very difficult. The executive added that the company is focusing on novel proposals for solving real issues.