Cronos Labs, a blockchain startup accelerator focusing on the development of the Cronos ecosystem, announced a partnership with Protocol Labs, the open-source research and development laboratory that builds protocols, tools, and services to radically improve the internet.
As part of the collaboration, Protocol Labs will “provide startups within Cronos’ Accelerator Program with the resources needed to develop innovative Web3 applications within the Cronos ecosystem.”
The Cronos Accelerator Program is “dedicated to empowering AI and blockchain startups that focus on decentralized finance, Web3 games, and social applications.”
It reportedly offers “a selected cohort of startups valuable resources, mentoring, and funding to facilitate the development of the next generation of Web3 applications and infrastructure on the Cronos chain.”
Protocol Labs, “renowned for projects like IPFS, Filecoin, libp2p, aims to fortify and democratize the web.” As a fully distributed organization with a global team of over 300 individuals, Protocol Labs is committed “to advancing computing breakthroughs that push humanity forward.”
Through this partnership, Protocol Labs will “offer workshops, technical support, and mentorship to participants in the Cronos Accelerator Program, helping them accelerate the development of their blockchain solutions and bring them to market faster.”
Given Protocol Labs’ focus, there is massive potential “to support current and future cohorts of the Cronos Accelerator Program.”
Charlotte Kapoor, Head of Innovation Programs commented:
“By joining forces with Protocol Labs, Cronos Labs is reinforcing our commitment to paving the way for the future of Web3. In leveraging established players in the industry, we hope to actively cultivate an ecosystem of innovative startups that will contribute not only to the Cronos network but to the wider industry’s growth and evolution.”
Ruben Amenyogbo, Head of Builders at Protocol Labs, said:
“Protocol Labs is thrilled to collaborate with Cronos Labs in driving the widespread adoption of Web3 technologies. This partnership has tremendous potential to provide robust support and empowerment to the current and future cohorts of blockchain startups, fostering the growth of decentralized finance, GameFi, SocialFi, and web3 infrastructure projects. By pushing boundaries and spearheading computing breakthroughs, we aim to shape the future of the web and create a transformative impact.”
With a focus on the priority verticals of DeFi, GameFi, SocialFi, and infrastructure, Cronos’ Accelerator Program caters “to early-stage web3 teams building at the intersections of AI and blockchain.”
The program’s second cohort, comprising eight successful startups, not only received upfront seed funding of US$30,000 but also have the opportunity “to secure additional seed funding of up to US$300,000 from Cronos Labs and its esteemed partners.”
The second cohort of the three-month Cronos Labs’ Accelerator Program kicked off on 15 May 2023.
Projects are carefully “selected based on the criteria of market potential, the experience of the leadership team, market fit, and synergies with the Cronos chain.”