Ethereum Classic Labs incubator officially announced its accelerator program to promote the development of products based on the Ethereum Classic network.

On July 28, Ethereum Classic Labs published a blog post to provide details about Ethereum Classic Labs Accelerate, a program for funding and educating blockchain firms and communities that are creating products and services on the Ethereum Classic blockchain.

According to the announcement, the first Cohort of Ethereum Classic Labs Accelerate was formed during Q1 2019 while the second is expected to be announced in Q3. Ethereum Classic Labs noted that Accelerate targets two cohorts per year, with each having a different focus and theme.

The first cohort was focused on infrastructure for building blockchain applications and included 11 blockchain companies such as crypto wallet Button and blockchain interoperability project EtherNode. As a part of the program, the participants reportedly received funding, mentorship, as well as facilities, workshops, connections and other necessary resources.

Each Accelerate program lasts a total of 3 months

As mentioned in the post, the duration of each Accelerate program amounts to a total of three months, focusing on both hard and soft skills shared by the Ethereum Classic Labs Core team, which was launched in January 2019.

Earlier this month, Cointelegraph reported on Fidelity, Deloitte and Amazon supporting a new blockchain accelerator program called Startup Studio. Alongside 20 other firms such as the Ethereum Foundation and ETH Global, the companies joined forces to provide workshops to blockchain startups and help them expand their expertise.