Ethereum Classic Labs to launch Cohort II of its Accelerate program, price continues to move sluggishly

• The program will focus on technical direction, product development, regulation, sales strategy and more.
• Cohort 1 was conducted with 11 blockchain companies, which involved several prominent guest speakers.

An incubator investing in the future of Ethereum Classic (ETC), “Ethereum Classic Labs” started the first cohort of its ‘Accelerate’ program earlier this year. The program focused on guiding, funding and educating blockchain companies that are offering services and products based on Ethereum Classic.  

The incubator announced that it’s currently reviewing more Ethereum Classic startups to be a part of Cohort II, which is expected to start in the third quarter of 2019. The three-month Accelerate program focuses on a structured curriculum that will mentor and educate startups on technical direction, product development, legal, regulation, positioning, go-to-market strategy, community development, sales strategy, investor pitches and business modeling. After the completion of the program, all participant teams will be welcome to continue-on as alumni. They can attend a bi-annual all-hands and an annual in-person meeting.  

Cohort I highlights

The first cohort consisted of 11 blockchain companies and the program included a combination of funding, mentorship, facilities, entrepreneurship workshops, and development resources. Cohort I was also had special guest speakers from prominent legal, compliancy, entrepreneurship, investors, and product designers to impart resources essential to structure, build and grow successful blockchain firms. Participant projects included – Button Wallet, EtherNode, Cryzen and Monetizr.

ETC/USD daily chart

The daily chart shows that ETC/USD is priced at $5.98, following three straight slightly bullish sessions, which are consolidating in a flag formation. The 20-day simple moving average (SMA 20) curve has taken a turn and is about to cross with the SMA 200 curve, which is a bearish sign. The moving average convergence/divergence (MACD) indicator shows bullish momentum while the Elliot oscillator shows 13 straight bullish sessions.