Ethereum Classic's ETC Labs Launches Crypto Startup Incubator Pilot to Gain Insight and Feedback

ETC Labs Launches Startup Incubator Pilot, Program Already Has More Than 100 Applications

Elizabeth Kukko, the director of Ethereum Classic’s investment branch ETC Labs, has recently talked about the company’s incubator program during an interview. Right from the start, a total of six selected projects are already a part of the project and the full launch will happen in the first quarter of 2019.

According to the director, the goal of the program will be to use the incubator model to get and give feedback with this initial team before the main launch. The pilot was started on October 1 and the six companies which are already with ETC Labs get free working space and the opportunity to talk with the team, as well as to present their ideas to high-profile investors during the launch event, which will be held on October 25.

Kukko has affirmed that the company has seen a lot of interest in the program and that over 120 applications have been received so far. Elizabeth has highlighted that some companies have really unique ideas that will be very interesting to see developed and that the company will help as many companies as possible.

The director of ETC Labs has also explained that the main reason for wanting to invest in this space is that the ETC platform is very secure and that it is creating a very competitive market. Starting next year, the lab is interested in supporting 20 to 24 startups per year so they can reach their full potential.

However, due to space issues, only 10 to 12 of them will be accommodated at the time.

ETC Loses Positions In The Crypto Market But Remains Competitive

The bear market has also touched Ethereum Classic. As the market slump continues, ETC has lost some its position in the market cap. While the price of the token jumped 25 percent when the U. S. based crypto exchange Coinbase announced that it would list it, the market has now disintegrated most of these gains.

At the time of this report, ETC/USD was traded around $9.55 USD, its lowest point since May 2017. However, the market cap of ETC is still above the $1 billion USD mark, but it look like it might not hold there for long if the downtrend continues.

Why bet in ETC, then? According to Kukko, because of the stability and security that the technology provides. While not as popular as the main Ethereum (ETH), ETC is still considered to be a very valuable blockchain.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Gabriel Machado
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

It’s Time for Tezos (XTZ) to Pull a Chainlink (LINK)?

Chainlink has been having a great past few months. This altcoin has been going parabolic since 2018 and in 2020 so far has recorded...

Samsung Adds Support For Stellar Blockchain Development On Galaxy Smartphones

Stellar (XLM) blockchain applications will now be available on select Samsung smartphones following its addition to the tech giant’s Blockchain Keystore. Four blockchain-based...

Bitcoin Isn't Budging Because Altcoins Are Out-Trading & Outperforming it

2020 started out bullish for Bitcoin, which went to $10,500 in February, but it didn’t stay that way for long. In March, BTC crashed...

Brave Browser Adds Gemini Crypto Exchange Trading Widget On Its Nightly Version

Gemini exchange announces a partnership with a privacy-focused browser, Brave, to integrate a trading widget app on the Brave Nightly version. This provides a...

Twitter Hacker Managed to Scam Only 12 Bitcoin After Duping Major Accounts Using ‘Internal Tools'

A security incident on Twitter duped businesses and people into sending at least $120,000 worth of Bitcoin to an anonymous online wallet, half of...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today