Cronos Labs, an accelerator dedicated to blockchain startups, announced a strategic partnership with Protocol Labs, an open-source R&D lab. Renowned for projects like IPFS and Filecoin, Protocol Labs has been involved in numerous advancements.
The collaboration aims to empower the Cronos Accelerator Program by providing its participants with the resources necessary for developing cutting-edge Web3 applications. The Cronos Accelerator Program is committed to supporting AI and blockchain startups focusing on decentralized finance (DeFi), Web3 gaming, and social applications.
With mentorship, resources, and funding, the program helps startups build revolutionary Web3 applications on the Cronos chain. Protocol Labs, with its extensive global team and commitment to improving the internet, aims to democratize the web through various breakthroughs.
As part of the partnership, Protocol Labs will offer workshops, technical support, and mentorship to the Cronos Accelerator Program’s participants, expediting the development and market launch of blockchain solutions. The synergy between Protocol Labs’ focus and the Cronos Accelerator Program holds immense potential for supporting and empowering both current and future cohorts.
Charlotte Kapoor, Head of Innovation Programs at Cronos Labs, 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, expressed,
“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.”
Cronos Labs’ Accelerator Program caters to early-stage Web3 teams, focusing on priority verticals such as DeFi, GameFi, SocialFi, and infrastructure. The second cohort of the program commenced on May 15, 2023, consisting of eight startups. These received initial seed funding of $30,000 and the opportunity for additional seed funding up to $300,000 from Cronos Labs and partners.
While Cronos is an EVM-compatible Layer-1 blockchain network on the Cosmos SDK, Protocol Labs is dedicated to building protocols. This collaboration is indeed a powerful one specially for Web3 advancement.