In a recent development, ETC Labs announced the launch of their startup incubator pilot program. The program started on October 1, with six selected startup companies. The program has reportedly received around 120 applications so far.
In an exclusive interview, Elizabeth Kukko, the Program Director at Ethereum Classic’s investment branch ETC Labs, talked in detail about the pilot program. She pointed out that the goal of this pilot program is to put the incubator model to work and collect feedback from these initial teams before the official launch.
The ETC Labs incubator is expected to go live in the first quarter of 2019.
ETC Labs will take into consideration all projects that are built on the Ethereum Classic blockchain. However, it is also trying to convince startups and projects that are not based on the Ethereum Classic blockchain, to consider the incubator program.
Further elaborating, Kukko said that ETC chose Ethereum Classic “because there is a lot of security on the main layer, and it doesn’t really matter what sidechains are used in conjunction to this. Also, the Ethereum Classic space is very competitive, with a lot of good ideas and startups with immense potential for growth.”
ETC Labs hopes to be able to support around 20⎯24 startups per year, depending on ETC’s capacity. Kukko believes ETC would probably be able to support 10⎯12 startups at one particular time owing to the space issue. These numbers might, however, vary as per each project’s requirements.
Kukko claimed that the incubation program would be an opportunity for startups to learn how to build on the ETC blockchain through one-on-one guidance from industry leaders and developer mentors. She shared the company’s plans to host regular boot camps, weekly meetups, and monthly dinners. The weekly meetups will be structured workshops with speeches by industry leaders from different sectors.
Speaking on the selection criteria for the program, she insisted that they would be looking at the technical capabilities of the startup and their ability to build on the ETC blockchain. However, great ideas and a motivated team would be the other two crucial aspects that they would be considering.
And she concludes saying, “If you have a great idea, or are a startup looking to grow, talk to us.”