Home / Bitcoin Latest News / ETC Labs Launches Startup Incubator Pilot as Applications Exceed 100

ETC Labs Launches Startup Incubator Pilot as Applications Exceed 100

The director of Ethereum Classic’s funding department ETC Labs published in an interview Thursday, Oct. 11, that it’ll paintings with as many as 24 startups each and every 12 months.

Elizabeth Kukko showed that six decided on tasks have been recently concerned with ETC Labs in a pilot scheme, with the whole incubator to release in Q1 2019.

“The goal of this pilot program is to put the incubator model to work and get feedback from these initial teams before going live,” she defined.

The transfer comes as Ethereum Classic (ETC) continues to lose its place as the full cryptocurrency marketplace droop continues.

In June, ETC’s costs jumped 25 percent after U.S. cryptocurrency trade Coinbase introduced it will upload the token to its orderbook.

At press time, ETC/USD traded round $nine.55, its lowest since May 2017, however the altcoin’s marketplace cap nonetheless stays at over $1 billion.

“[We chose] Ethereum Classic as a result of there’s a large number of security at the major layer, and it doesn’t in reality subject what sidechains are utilized in conjunction to this,” Kukko mentioned when requested in regards to the choice to paintings off the community.

“Also, the Ethereum Classic space is very competitive, with a lot of good ideas and startups with immense potential for growth.”

To that finish, Kukko didn’t expose the id of the tasks beneath supervision, however added that “technical capabilities of the team and their ability to build on the ETC blockchain” have been precedence necessities for attention of applicants.

ETC Labs claims to have up to now won 120 programs.

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