Ignite launches $150M-backed crypto project accelerator program for Cosmos

Ignite (formerly Tendermint), a developer for the Cosmos blockchain ecosystem, has announced the launch of the Ignite Accelerator, an initiative to support the next wave of early-stage startups in Web3.

Ignite Accelerator focuses on the multichain ecosystem, with a total of $150 million secured in alliance with 11 initial investment partners Alameda Research, Kucoin Ventures, OKX Blockdream Ventures, HashKey Capital, Chorus One, Figment, Chainlayer, Strangelove Ventures, Forbole, Everstake, and Galileo.

Through a tailored fast-track program, Ignite Accelerator supports participants to design, develop, and launch their blockchain projects faster, with access to expert mentorship, exclusive networking, exceptional talent, and substantial capital streams.

Teams will benefit from specialized support and go-to-market expertise from Ignite’s in-house professionals dedicated to helping projects blossom. Moreover, the help of established investor partners assists in fueling early-stage growth, providing expertise, and scaling your network.

“The name Ignite Accelerator may be new but identifying and funding high-potential blockchain projects is already woven into our company’s DNA. We’ve been incubating and accelerating Cosmos ecosystem projects internally since 2018. Now, in collaboration with our investment partners, we’re scaling our efforts to drive innovation across the blockchain space. Drawing on our successful track record and technical expertise (no other accelerator in the industry also created the core tech stack that participants will use), Ignite Accelerator will propel the adoption of the decentralized web.”
– The Ignite Team

Currently, the Ignite Accelerator has focused its investments on three key markets based on the current portfolio distribution: technical infrastructure, DeFi, plus community & social.

Ignite Accelerator forms one of three core pillars that enables Ignite to offer a clear path to launching blockchain projects, alongside Ignite CLI and Ignite Ventures (formerly Starport and Tendermint Ventures).

Ignite CLI, rebranded from Starport, is where projects will start their blockchain development process.

Operating as an inclusive platform, Ignite CLI is a feature-packed solution for developers to easily build interoperable and sovereign blockchains.

Adaptable to any project, Ignite CLI allows for building a fully sovereign blockchain, rather than just a smart contract on someone else’s chain.

All blockchains built with Ignite CLI come with IBC functionality so projects can build their community, and connect to a growing number of interoperated chains in the Cosmos ecosystem.

More than 30 chains have already been built using Ignite CLI, including some of the most inventive projects in the Cosmos network such as Osmosis, Juno, Lum Network, and Stargaze.

• Ignite Accelerator will support up to 20 projects a year, with two cohorts annually.
• Each cohort participation will run for six months and focus on helping participating projects reach successful mainnet launch within 12 months.
• Applications to join the fast-track program are now.

To be considered for the first cohort of Ignite Accelerator participants, check out the application.

The post Ignite launches $150M-backed crypto project accelerator program for Cosmos appeared first on CryptoNinjas.