After launching and supporting eight startups in the first edition of the ‘T-Block Accelerator’, the Telangana Blockchain District and crypto unicorn CoinSwitch Kuber on Friday launched the second cohort of this programme– the India Blockchain Accelerator – which is being supported by multiple partners.
This four-month programme, that is open to early-stage Web 2 and Web 3 startups, will allow blockchain entrepreneurs to secure government support, incubation space, grant and mentorship. These startups will be working on blockchain solutions solving real-world problems across areas such as fintech, entertainment, agritech, logistics and healthcare, among others. The startups also stand a chance to raise an investment of over $700,000 from investment partners Lightspeed and Woodstock Fund.
Commenting on the development, Telangana IT and industries principal secretary, Jayesh Ranjan, said, “Telangana is committed to its vision to lead the blockchain innovation in India …Through the programme, we hope to provide opportunities to the participating startups to pilot their solution in Telangana so that they can enhance their solution and further contribute to the accelerating Indian technology sector.”
Ashish Singhal , founder and CEO, CoinSwitch Kuber pointed out that the best global startups of tomorrow would run on web3 blockchain infrastructure, and some of these startups will come from India.
In fact, in 2019, The Telangana government set up a platform, ‘Telangana Blockchain District’ that helped stakeholders to collaborate and build solutions in blockchain technology. Along with the state government, IIITH, C-DAC and Tech Mahindra were its founding members. They worked on protocol development, incubation, acceleration, skill development and in identifying various use cases and building proof-of-concepts in various areas.
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