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Nervos launched a virtual incubator for early-stage startups that create DApps

May 12, 2020

Nervos has launched a virtual incubator for early-stage startups that create decentralized applications (DApps). This was reported to Cointelegraph in Spanish through a statement.

“With the name CK Labs, The incubator will fund startups that develop their DApps on the Nervos platform and introduce the products to crypto investors to bring products to the market”They indicated. The company believes the incubator can also help develop its own two-tier blockchain platform.

CK Labs is coming a few months after the open source network has committed to allocate $ 30 million to development teams to help Nervos improve its Layer 1 infrastructure.

Nervos launched a virtual incubator for early-stage startups that create DAppsNervos launched a virtual incubator for early-stage startups that create DApps

Kevin Wang, co-founder of Nervos, said:

“There will be many more infrastructure improvements to come, but the launch of CK Labs marks the next stage for Nervos as we begin to add network and DApps and Layer 2 solutions to the network.”

As stated in the statement The company will initially deploy $ 5 million to help startups launch their products while providing access to venture capital firms., including Polychain Capital, Multicoin Capital, Dragonfly Capital and 1 confirmation.

According to Nervos Any startup with an existing product with minimal viability could request and potentially receive up to $ 100,000 in “equity free” capital.In addition to participating in a four-month program designed to help teams gain a deeper understanding of Nervos infrastructure and the resources required to launch or scale products online.

On the other hand, they said that Nervos was founded in 2018 and has raised more than $ 100 million. This secured $ 28 million in Series A funding, led by Polychain and Sequoia China in July 2018, and $ 72 million in token sales in November. They also said that their open two-tier network aims to maintain a level of security as high as that of Bitcoin, while increasing scalability across a side chain.

New boss

CK Labs is managed by Ben Morris. Morris comes from Status, an Ethereum-based messaging platform where he ran his incubator program. He led investments in Matrix, Pixura and LeapDAO, three startups focused on improving the scalability of Ethereum-based networks.

Previously, Morris was Head of Treasury Specialists at Thomson Reuters in Dubai and Manager for e-commerce development at Bloomberg in Singapore.

Morris noted:

“The CK Labs program was specifically designed to accelerate teams that focus on launching the first wave of adoption. Given the versatility of Nervos, we’d like to invite founders from all business areas to apply.”

The company announced that applications for the first batch of CK Labs are now being accepted. It was also stated that the program is carried out several times a year with two to four teams each in order to receive personalized support.

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