The investment arm of the Ethereum Classic (ETC) project, Ethereum Classic Labs, recently revealed plans to back as many as 24 startups per year in an effort to expand its ecosystem.

According to a recent interview with Elizabeth Kukka, Program Director at ETC Labs, the new incubator program has launched with an initial cohort of 6 projects, selected from a pool of 120 applicants.

While Kukka didn’t reveal the full details on the startups currently being incubated, she does describe a number of startups that impressed her, including a blockchain platform for scientific research, a decentralized IoT platform for data in real time, and a VR/AR collectibles app.

“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,” said Kukka in the interview.

ETC recently fell below $10 and is currently trading at $9.53, giving the project a $998.1 million market cap and making it the 15th largest cryptocurrency in the AltDex 100 Index (ALT100).

More: An Interview with Elizabeth Kukka
Related: Ethereum Co-Founder Says Ethereum Classic Resembles the Early Days of Bitcoin

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.