Cronos Labs launches second cohort of $100M Web3 accelerator
On May 15, the chosen projects commenced the 12-week program after being granted seed funding of $30,000.
Blockchain startup accelerator Cronos Labs has announced the launch of its second cohort for the Cronos Accelerator Program. The program, backed by a substantial $100 million investment, aims to support early-stage crypto projects by providing mentorship and funding opportunities.
According to an announcement sent to Cointelegraph, Cronos Labs handpicked eight projects to participate in their accelerator program. Each of the selected projects, namely Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Network, and CorgiAi, received upfront seed funding of $30,000 to commence their 12-week program.
The chosen projects cover a diverse range of areas, including Web3 game development, decentralized social networking, pet-focused video sharing, smart-contract wallet integration, loyalty platforms for Web3 gaming, exchange aggregation for institutional trading, liquid marketplaces for yield-earning opportunities, and an ecosystem for the peer-to-peer economy of generative AI.
One of the key themes of this second cohort is the intersection of artificial intelligence (AI) and blockchain technology. Cronos Labs has partnered with Amazon Web Services (AWS) to offer AI-related workshops and mentorship sessions to the participating projects. Additionally, the chosen projects will have access to AWS' resources, including machine learning and AI services. CertiK, Hacken, and Covalent are among the noteworthy additions as partners for this cohort.
At the conclusion of the 12-week program, the participating projects will be given the platform to present their concepts to investment partners at a Demo Day scheduled for late July 2023. This event will give participants the opportunity to secure additional seed funding and garner backing from investors including NGC, Fundamental Labs, Spartan Group, and Delphi Digital.
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