Crypto.com’s Cronos has announced the introduction of a $100 million accelerator program to help drive breakthroughs in areas such as decentralized finance (DeFi), Web3, and Metaverse.
The Cronos Accelerator Program, which is driving the initiative, is supported by $100 million and is designed to assist crypto companies in the seed and pre-seed phases that are looking for mentorship, finance, and growth.
Projects selected for the accelerator program will be paired with mentors who are compatible, according to the statement.
Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks are among the significant investment partners supporting the Cronos Accelerator Program.
Cronos intends to bring on additional partners in the future. Cronos managing director Ken Timsit remarked, “To provide greater insight into the initiative,
“In the current climate, it is more important than ever to put our heads down and start building aggressively.”
Timsit seeks to help projects reach their full potential by offering end-to-end support throughout the project’s life cycle. Cronos Labs, the Web3 startup accelerator arm of Cronos, hosts weekly workshops on various areas of establishing crypto ventures as part of this effort.
Aspiring projects have the potential to receive a seed investment of $100,000–$300,000, as well as the prospect of additional grant funding.
Projects will be able to connect to Crypto.com’s ecosystem, which includes a DeFi wallet, crypto exchange, and nonfungible token marketplace, in addition to mentorship and other marketing initiatives.
The Philippines’ Department of Science and Technology (DOST) recently announced a training program for researchers interested in evaluating the practicality of blockchain technology in the healthcare, financial services, and emergency help industries.
A DOST official, Enrico Paringit, stated that the department intends to “create non-cryptocurrency applications” while also producing blockchain development expertise to help the government’s in-house efforts.
