The India Blockchain Accelerator has shortlisted 14 early-stage Web3 startups for the final evaluation round for its first-ever mentorship and financing program.
Launched in December 2021 as a joint initiative of the Government of Telangana, CoinSwitch, crypto investing app, and Lumos Labs, an innovation management firm, the accelerator provides a $700K grant pool, go-to-market support, and mentorship.
The India Blockchain Accelerator is a state-supported program aimed at supporting and equipping deep-tech blockchain startups in India, and received over 270 registrations from Indian and global startups.
The 14 shortlisted startups will get an opportunity to finetune their business idea in the evaluation stage and engage with the Government of Telangana, CoinSwitch and the investment partners.
Five best-rated startups will present their solutions to the investors on the Demo Day to stand a chance at receiving accreditation by the Telangana government, incubation space, go-to-market support, expert mentorship, and grant from a prize pool of $700K from investment partners Lightspeed and Woodstock Fund, contingent on due diligence and investment thesis fit.
Jayesh Ranjan,Principal Secretary, ITE&C and Industries, Govt of Telangana said, “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.”
Ashish Singhal, Co-founder and CEO, CoinSwitch, said, “We are pleased to announce the shortlist of The India Blockchain Accelerator. Blockchain has immense real-world utility and can solve many of India’s problems, be it in healthcare, infrastructure, logistics or finance.”
Kaavya Prasad, Co-founder, Lumos Labs, said, “Through the period of this program it has been fascinating to see the spirit of innovation at the very grassroot stage. We are excited for the innovation these fifteen startups have presented and the possibilities that these provide for future solutions to come from this ecosystem.”
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
NFTready.tech
These startups provide blockchain use-cases in Fintech, Entertainment, Sustainability, Infrastructure and Tooling, Agritech, Logistics, and Healthcare.
