AlgoBharat, Algorand Foundation’s India-focused initiative, is believed to have strengthened its commitment to the Indian Web3.0 ecosystem with announcements made at Algorand Impact Summit, a two-day event that convenes business leaders, policymakers, NGOs, and developers to discuss how blockchain can help solve certain global challenges.
According to an official release, the announcements included a partnership with T-Hub, a Telangana government-led tech incubator, to launch “Startup Labs”, a 12-month program that will offer mentorship for 20 Web3.0 startups, a partnership with NASSCOM, through its FutureSkills Prime skilling hub, to provide modular-based training content and assessments to support the training and employability of students and professionals building out their Web3.0 developer capabilities, a partnership with TiE Bangalore with the objective of fostering the Indian Web3.0 ecosystem through educational and training initiatives. From what it’s understood, this partnership will help Algorand establish its foothold with the startup, investor and tech communities in Bangalore.
Reportedly, the event involved a collaboration with Mann Deshi to develop a blockchain-based credit score card and identity system for Mann Deshi Foundation’s women entrepreneurs. The project, which aims to address the challenges created by lack of formal credit histories and limited access to loans, is seemingly being rolled out in a phased approach with a select group of women entrepreneurs. Moreover, launch of the first pilot through their partnership with Self-Employed Women’s Association (SEWA) is expected to empower women to earn high value carbon credits through a blockchain-based solution that captures data on the production of renewable gas from biogas digesters.
“I believe blockchain technologies can bring upliftment by providing access to markets, capital, and financial services. The Algorand Impact Summit aims to stand as a testament to our belief in the Indian Web3.0 ecosystem. Partnering with those who share our passion, we are looking forward to witnessing the on-the-ground impact on improving access to markets, capital, and financial services,” Anil Kakani, vice-president and India country head, Algorand Foundation, said.
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