CV VC (Crypto Valley Venture Capital) announced this week the launch of its new Incubation Program with 12 blockchain startups in Zug, Switzerland. The organization reported that out of 500 applications, 12 startups were selected and have relocated to Zug for the ten-week program.

According to CV VC, the blockchain projects receive up to $125,000 in funding, work with more than 70 experienced mentors/experts and get valuable access to the globally respected Crypto Valley ecosystem. The second batch of the program starts in fall 2019, applications are now open. Mathias Ruch, CEO and Founder of CV VC, stated:

“With the CV Labs Incubation Program, we are leveraging Switzerland’s pole position in the blockchain industry to bring the next generation of blockchain startups to this unique ecosystem. Blockchain as well as AI and IoT are all heralding a paradigm shift in technology. They are designed to enable machines to communicate among themselves and to perform a wide variety of tasks in a largely automated manner. These technologies will impact our lives deeply and place increased demands on transparency and security. We believe blockchain will act as the catalyst tying all these technologies together.”

CV VC added it invests up to $125,000 in seed funding into the 12 participating early stage blockchain companies in return for 10% equity. Participants in the program benefit from an extensive curriculum, education and coaching, the CV Labs network, workspace and a series of events.