Hyderabad: 14 early-stage Web3 startups from around the world have been shortlisted by the Indian Blockchain Accelerator for its first ever mentorship and financing program, on Tuesday.
Out of the shortlisted startups, the five best-rated startups will be presenting their solutions to the investors on Demo Day to win a 700K dollar grant pool, market support, and mentorship.
A joint initiative of the state, Coin Switch, and Lumos Labs, India Blockchain Accelerator brings together different facets of Blockchain technology under one umbrella.Out of a whopping 270 applicants, these 14 shortlisted startups will get the opportunity to fine-tune their business idea and engage with the investment partners.
“In line with its vision to be a leader in emerging technologies, the Government of Telangana has taken up several initiatives to develop a conducive ecosystem for the industry in the State. Realizing the potential of Blockchain technology, the government, with industry leaders, 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,” Principal Secretary of ITE&C and Industries, Government of Telangana, Jayesh Ranjan commented.
The shortlisted startups are Whrrl, Print2Block, Emertech Innovations Pvt. Ltd, Blockster Labs Private Limited, The-Ally, Karpine, BirthVenue, Autify Network, The Indian Art Revolution (TIAR), Eventozo, Nibiaa Devices Pvt.Ltd, MentorPlus (M+), Konct, and NFTready.tech.“We are excited about the innovation these fourteen startups have presented and the possibilities that these provide for future solutions to come from this ecosystem,” Co-founder of Lumos Labs, Kaavya Prasad said.