Ethereum Classic Labs Plans to Support 20 to 24 Startups per Year

The Ethereum Classic Labs, the investment arm of Ethereum Classic (ETC) project recently revealed there plans of encouraging the ecosystem expansion by backing 24 startups per year. The Program Director at ETC Labs, Elizabeth Kukka announced in a recent interview that the newly incubated program has initiated with 6 projects that has been selected from a pool of 120 applicants.

Kukka did not reveal the details of the startups that has been selected, in the interview, but she mentioned some of the stratups that managed to impress her; including a decentralized IoT platform for data in real time, a blockchain platform for scientific research, and a VR/AR collectibles app. Kukka said:

“We look at the technical capabilities of the team and their ability to build on the ETC blockchain. Of course, great ideas and a motivated team are important too.” 

Succumbing to the bear market, ETC observed a fall below $10, at the time of the writing. The tokes currently owns a $998.1 million market cap and is ranked as the  15th largest cryptocurrency in the AltDex 100 Index (ALT100).

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