Cronos Labs, a Web3.0 startup accelerator, launched the third cohort of its accelerator program which supports early-stage projects by providing funding opportunities and mentorship. The scheme is expected to be backed by about $100 million in investment that will be used to support crypto startups, stated Cointelegraph.
Cronos Labs is believed to have highlighted that the accelerator’s aim is to nurture startups that can have the potential to “shape the future of Web3.0.”
Sources revealed that Cronos is also expected to be looking for projects that will focus on creating practical use cases. Supposedly, the use cases might be able to push the adoption of decentralised applications (DApps) by humans rather than bots, Cointelegraph added.
“The number and quality of applicants to previous iterations of the accelerator was overwhelming and it’s going to be tough to create a final shortlist. We’re looking for novel proposals that solve real problems while demonstrating ingenious uses for AI, blockchain, and decentralised technology,” Charlotte Kapoor, Cronos, head of innovation programs, told Cointelegraph.
(With insights from Cointelegraph)
