Blockchain technology company Cronos has launched its $100 million Cronos Accelerator Program to support developers and builders in accelerating the growth of this ecosystem.
The Accelerator announcement is excellent news for blockchain projects that find themselves in the seed-pre-seed stage and are looking for funding, mentorship, growth, or a combination of the above. The Cronos Accelerator Program will primarily focus on advanced DeFi, Web3 Gaming & Metaverse, and Infrastructure & Tooling.
Projects accepted to become part of the Cronos Accelerator Program will be matched with reputable industry mentors. Additionally, there are weekly workshops led by Cronos Labs and external subject matter experts. These workshops will cover various topics associated with protocol building. The Cronos Accelerator has a top-tier line-up of key partners who will be supporting projects in the Accelerator through investments, mentorship, and workshops. Partners include Crypto.com Capital, Mechanism Capital, Spartan Labs, IOSG Ventures, OKX Blockdream Ventures, AP Capital, Altcoin Buzz, Dorahacks, and many more to be announced at a later stage.
Cronos Managing Director Ken Timsit adds: “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 is more important than ever to put our heads down and start building aggressively. We are a top 10 blockchain via Total Value Locked at the moment, and are on track to reach the top 5 by the end of 2022.”
The Cronos Accelerator Program features the following:
- Seed investment opportunities from Cronos Labs between $100,000 and $300,000
- Additional grant funding for security audits, node services, and gas fees
- Investment opportunities from established VC partners
- Marketing support and access to the growing Cronos user base through social media channels, AMA webinars, and introductions
- Business advisory from Cronos Labs and industry mentors
- Weekly 1-on-1 mentorship and networking with industry leaders
- Fast-tracking with audit partners
- Introductions to Crypto.com ecosystem: DeFi Wallet, Exchange, App, and NFT Marketplace
Cronos VP of Ecosystem Ella Qiang states: “After speaking with many projects in the industry, we realised that while many have high potential, they may not have all the tools they need to stand out and build sustainable tokenomics. We want to provide the necessary support for early-stage projects and accelerate their growth on Cronos.”
The Cronos Accelerator Program is funded by the $100 million Cronos Labs Ecosystem Fund. There will be 3–4 cohorts per year, featuring an average of 10 start-ups per cohort.
The Cronos Accelerator is a 10-week program. Projects accepted into the accelerator program will be matched with reputable mentors in the industry and undergo weekly workshops led by Cronos Labs and external subject matter experts on key topics relating to protocol building. The program will end with a Demo Day for projects to pitch their projects to investment partners of the program.
During the 10 weeks, Cronos Labs and mentors will help founders to polish their business and product strategies, aid with Cronos technical integration, provide market insights, help with community building, refine tokenomics design, recommend smart contract security best practices, and provide fundraising tips.
Click here to apply for the accelerator programme.
