Google Cloud, Amazon Web Services, and More Join Cronos Labs in Pioneering Web3 Innovation
Published on September 05, 2023
Cronos Labs has launched the recruitment phase for its ambitious $100 million accelerator program, forging partnerships with tech giants such as Google Cloud and Amazon Web Services. This initiative marks a significant step forward in shaping the future of Web3 technology.
Empowering Early-Stage Projects
Cronos Labs, a Web3 startup accelerator, is extending a helping hand to early-stage projects. Its third cohort of the accelerator program aims to provide vital funding and mentorship to nurture budding crypto startups. The substantial $100 million investment is earmarked to fuel innovation in the crypto space.
Shaping the Future of Web3
In an exclusive announcement to Cointelegraph, Cronos Labs emphasized its mission to foster startups capable of “shaping the future of Web3.” The focus is on projects that offer practical use cases, facilitating the widespread adoption of decentralized applications (DApps) by genuine users, as opposed to automated bots.
Recruitment Phase in Full Swing
The recruitment phase for this transformative program commenced on September 4, coinciding with the commencement of Korea Blockchain Week, running until September 10. Cronos Labs is set to select eight promising startups to partake in a 12-week remote program. This comprehensive program includes mentorship, master classes, marketing and financial support, as well as introductions to strategic partners. The culmination of the program will be a demo day designed to initiate discussions on fundraising.
Quality Overwhelming Demand
Charlotte Kapoor, the head of innovation programs at Cronos, expressed her amazement at both the quantity and quality of applicants from previous accelerator iterations. Kapoor underscored the accelerator’s quest for ingenious proposals that address real-world issues while showcasing innovative applications of AI, blockchain, and decentralized technology.
Industry Titans as Mentors and Partners
Cronos has forged strategic alliances with industry giants to serve as mentors and partners in this transformative program. Notable participants include Google Cloud, Amazon Web Services, as well as blockchain security firms CertiK and PeckShield. In addition, Protocol Labs, Hacken, and Covalent are actively contributing to the accelerator program, consolidating its position as a driving force in the Web3 ecosystem.
Rising Momentum in Web3 Funding
This initiative aligns with the broader trend of increased funding for Web3 technology. On August 7, the Monetary Authority of Singapore, the country’s central bank, pledged $112 million to bolster financial technology solutions, including Web3. This commitment aims to foster innovation by supporting projects that harness cutting-edge technology.
As Cronos Labs embarks on its mission to shape the future of Web3, the collaboration with industry leaders and substantial investment bode well for the development and adoption of decentralized technologies.
