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Ethereum Classic [ETC]’s incubator program – Invests in startups for 9% equity

Ranjitha Shastry



Ethereum Classic [ETC]'s incubator program- Invests in startups for 9% equity
Source: Pixabay

Ethereum Classic, today, announced about their incubator programme which is launched by HCM, Digital Finance Group, and Digital Currency Group. The Ethereum Classic labs aim to provide both reliable investment and in-depth advice from industry specialists for growing startups on Ethereum Classic Blockchain.

Ethereum Classic announcement on their Twitter page | Source: Twitter

Ethereum Classic announcement on their Twitter page | Source: Twitter

ETC Labs are one of the first incubators which finance innovative projects on the Ethereum Classic Blockchain, for stimulating the development of Ethereum Classic community and ecosystem.

Their website mentions:

“Each year we will run three incubator programs and invest between $50,000 – $150,000 in startups, in exchange for 9% equity.”

Their Twitter post read about the registrations being open for this program. The incubator programs provide startups with funding, office space, training, workshops, networking, and other resources. This program provides a hands-on guide to go through a business process on potential application topics, which are on ETC Blockchain. Their commission is 9% equity shares of the startup.

HCM is a corporate investment company whose investment strategy focuses on the “six flows”-information flow, technology flow, gold flow, logistics, human flow, and process flow of the latest economic industry.

They state:

 “By joining hands with outstanding entrepreneurial companies, we are committed to using technology and business innovation to reshape traditional industries and people’s lifestyles.”

Digital Finance Group are also an Investment company who hold a diversified portfolio that mainly focuses on blockchain and digital assets. They provide angel round investment, venture capital, private equity, strategic investment, and merger and acquisitions.

Digital Currency Group, founded in 2015 and located in New York City, is a venture capital company focusing on the digital currency market. Barry Silbert, CEO and Founder of Digital Currency Group states:

“We are a team who passionately believe bitcoin and blockchain technology will drive global economic and social change. Our unique model enables us to deploy our resources to build the bitcoin and blockchain ecosystem over the long term.”

Ethereum Classic currently has a market cap of $1,366 billion with the price at $13.36 and has seen a fall of -1.58% over the last 24 hours.

Ethereum Classic's trade history [7 days] | Source: CoinMarketCap

Ethereum Classic’s trade history [7 days] | Source: CoinMarketCap

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Ranjitha Shastry is a part of AMBCrypto's News Reporting Team. Having done her major in Journalism and mass communication, she is passionate about business and economic journalism.