Creators of Cosmos Launch $150M Accelerator Program for Startups

Ignite, creators of the cosmos ecosystem, launched their $150 million-backed accelerator program designed to help support innovative web3 projects according to an announcement on Tuesday. 

They also shared the news via Twitter: 

Ignite notes that building a decentralized app can be easy with their Ignite CLI, formerly known as Starport, but to bring a blockchain from ideation to the market and beyond takes a whole different set of skills. That’s where the accelerator program comes in, to support startups in their development. 

“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,” the announcement said. “You'll benefit from specialized support and go-to-market expertise from our in-house professionals dedicated to helping you succeed.” 

11 initial investment partners joined Ignite to embark on this endeavor like Alameda Research, Kucoin Ventures, OKX Blockdream Ventures, Hashkey Capital, Chorus One, Figment, Chainlayer, Strangelove Ventures, Forbole, Everstake, and Galileo.  

The accelerator will support a maximum of 20 projects per year in the form of two cohorts. Each session will last six months with a goal of a successful mainnet launch within a year. 

This funding comes as the Theta upgrade to the Cosmos Hub is scheduled to drop some time this month. The first of two major upgrades to allow for interchain accounts, allowing the Cosmos Hub to act as a host chain. 

In addition, Ignite announced in the same press release they are rebranding Starport to Ignite CLI, a tool to help blockchain developers. Some of the notable features are powerful code scaffolding making boilerplate code easier to code and a hot reloading server allowing users to quickly start a local blockchain environment. 

Author: Tyler Irvin

Related Articles