Cronos, the EVM-compatible layer-1 blockchain backed by industry giant CryptoCom, announced a 10-week accelerator program with $100 million in funding.
According to a press release shared with CryptoPotato, Cronos launched the so-called Cronos Accelerator Program.
This is a 10-week initiative with a $100 million war chest that aims to sustain the momentum in the space and provide developers with further incentives to continue building.
Projects that receive the green light will be matched with industry mentors with relevant experience.
In addition, Cronos Labs will also host weekly workshops that will include external subject matter experts. Their focus would be on various topics, all associated with building decentralized protocols.
Speaking on the matter was Ken Timsit, Managing Director at Cronos Chain and the Cronos Labs Accelerator, who said:
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.
The release added that seed investment opportunities from the accelerator would range between $100K and $300K.
The news comes on the back of CryptoCom receiving provisional approval to offer cryptocurrency-related services in Dubai a few days ago.