Since its launch in 2022, the acceleration program by Cronos Labs has onboarded dozens of start-ups from various segments of the blockchain and DeFi scenes. This year, it is going to support teams focused on bringing AI and blockchain together.
Cronos Labs' $100 million acceleration program welcomes third cohort
Cronos Labs, a top-tier blockchain start-up accelerator for DeFis, GameFis and Cronos ecosystem infrastructure, announced today the third cohort of its flagship acceleration program for early-stage teams. The Third Cohort has registered a 57% increase in applications in comparison to its prior cohort, the Cronos team said in a statement.
The five projects, which were chosen based on the innovative nature of their technology and the strength of their teams, will each receive $30,000 in upfront seed funding as they kick off the twelve-week program on Jan. 24, 2024.
The hotly anticipated third cohort of Cronos Labs' accelerator features AI-fueled gamified sports training app LILLIUS, an AI- and ZK-based platform for digital foot print management, InnerWorks, decentralized synthetic asset protocol Reax, decentralized lending protocol Securd, as well as AI-powered predict-to-earn GameFi Newwit.
Ken Timsit, Head of Cronos Labs, is excited by the opportunities his accelerator unlocks for early-stage blockchain businesses:
The overwhelming response we've had to the third cohort of the Cronos Accelerator Program is a testament to the growing confidence and enthusiasm that Web3 is where the future lies. With such a significant increase in the number of applicants for the program, it's clear that developers from all backgrounds are more enthusiastic than ever about building newer, more advanced use cases for Web3 applications. The program will pave the way for the next generation of innovators in the Cronos ecosystem, helping to bring Web3 into the mainstream where it belongs.
Besides direct funding, projects benefit from seamless access to 50+ partners and 100+ mentors within the Cronos ecosystem, including experts and workshops from Protocol Labs, GSR, Certik, Dora Hacks, Hacken and more.
Leveraging AI tools to advance Web3 adoption
Charlotte Kapoor, Head of Innovation Programs at Cronos Labs, highlights the importance of the Cronos Accelerator Program for establishing bridges between generative AI and blockchain:
The third cohort of the Cronos Accelerator Program sits at the forefront of two of the most exciting technology trends of our times -- generative AI and blockchain -- and will accelerate their integration to deliver cutting-edge solutions for consumers and businesses alike. The intersection of generative AI and blockchain will lead to transformative new applications, and the program will empower the chosen startups with the funding, resources, tools and connections needed to energize growth within the Cronos ecosystem.
Following the culmination of the Cronos Accelerator Program, the shortlisted projects will participate in a Demo Day In the second week of April 2024, where they will showcase their projects.
It will provide an opportunity for each of the projects to pitch its ideas to the program's key investment partners and secure further seed funding. Investors and mentors include NGC, Fundamental Labs, Republic, Animoca and Delphi Digital.
Alex Dovbnya
Dan Burgin