AlgoBharat, Algorand Foundation’s India-focused initiative, has announced the official launch of its Startup Lab program at T-Hub, an Indian incubator. Reportedly, Startup Lab is a year-long program that will offer technical and business mentorship and access to pre-seed funding to twenty select Web3.0 startups as they move towards product, market, and funding readiness.
According to an official release, Algorand Foundation and T-Hub announced the commencement of the application process for pan-India startup teams who are invited to demonstrate their Web3.0 solutions. Seemingly, the application process runs through March 15, 2024, with selectees to be announced on March 18 and program kickoff slated for March 22 at T-Hub’s innovation centre in Hyderabad. It’s believed that the Startup Lab seeks solutions that use blockchain technology to drive transparency and inclusivity across verticals including health care, supply chain, sustainability, financial inclusion, and agriculture. Startups achieving critical milestones are understood to be eligible for pre-seed funding from the Algorand Foundation as part of an India fund.
Sources suggest that while Algorand Foundation will play a role in offering technical and solution architecting support by mentors from their global team for each of the Startup Lab Web3.0 startups, T-Hub will provide project management resources, business mentoring, guidance, introductions to large corporate customers to pilot test their products, and access to angel and institutional investors along with physical meeting space.
“We are looking forward to kickstarting the Algorand Startup Lab program for our Web3.0 startups in India at the world’s innovation hub and startup ecosystem. This program should provide an opportunity for Web3.0 startups to get infrastructure support, technical and business mentorship, and access to investors and customers to pilot their solutions and scale their ventures,” Anil Kakani, VP and India country head, Algorand Foundation, said.
Follow us on Twitter, Facebook, LinkedIn
