ETC Labs Launches Crypto Incubator for Ethereum Classic based Startups

• Elizabeth Kukka, Director for ETC Labs, gave an interview revealing details behind their incubator program.
• During this talk, she talked about future growth plans, why Ethereum Classic and much more…

Elizabeth T. Kukka, Director of ETC Labs revealed in her interview that the company’s incubator program will work with as many as 24 Ethereum Classic based startups each year. She also stated that they were already involved in the pilot scheme with 6 startups with the main launch of the incubator in Q1 2019.

ETC labs is a startup incubator established in 2018 by Cryptopreneurs to help accelerate innovative projects on the Ethereum Classic blockchain. The program started on October 1  and will provide free office space, advisory, support, and access to a community of peers to grow the ETC ecosystem. Along with that, they will get to present their ideas to high-profile investors during the October 25 launch event.

“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 explained.

Kukka also confirmed that the company has received over 120 applications so far. She also highlighted the diversity of the startups with one startup involved in the organization and support of scientific research in the field of blockchain technology and another decentralized IoT platform that allows users to store IoT data in real time, without any support from a centralized authority. She also mentioned that some of the startups had really unique ideas and some that were not quite there yet

Elizabeth responding to how they decided on Ethereum Classic for the program:

“ We [ETC labs] 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. ”

Future Plans

ETC Labs plans to support 20-24 projects each year with 10-12 startups at a time, mostly due to capacity and how many we can accommodate at any given time. Support will vary depending on each project’s needs. Elaborating further on the criteria that the program would evaluate the applicants on, 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.”

She went on to encourage startups with great ideas to get in touch with ETC Labs with.

” We’ll have regular bootcamp sessions with general blockchain training and how to build on ETC specifically. We also plan to host weekly meetups and monthly dinners. The weekly meetups will mostly be structured workshops with speeches by industry leaders from all sorts of different backgrounds. “

Blockmanity’s Take

ETC Labs is trying its best to jump-start growth in the original version of the Ethereum blockchain community and the program is an exciting proposition for startups to work upon their ideas and get access to the support mechanism. However, Ethereum Classic continues on its downward trajectory with the widespread crypto selloff, currently being traded at around $9.71 USD and ranking 16th on Coinmarketcap. We hope ETC labs succeeds in its plans to revitalize ETC to its former glory.

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