AlgoBharat, an initiative by the Algorand Foundation for India, has partnered with T-Hub, the Telangana government incubator, to introduce the Algorand Startup Lab programme. This year-long initiative aims to support twenty Web3 startups in India through technical and business mentorship, give them access to pre-seed funding, and guidance towards achieving product-market fit.
The Startup Lab programme is open for startups across the country. Application period that will end on March 15, 2024. Applications window is currently open. After the application period closes, on March 18, the firms that make the cut will be notified, and on March 22, the programme will start at T-Hub’s innovation center in Hyderabad.
Web3 startups leveraging blockchain technology to bolster transparency and inclusivity across sectors like healthcare, supply chain, sustainability, financial inclusion, and agriculture and are encouraged to apply.
Selected startups may receive pre-seed funding from the Algorand Foundation’s India fund based on their progress during the programme. Mentors from Algorand’s global team will offer technical and solution architecting support, while T-Hub will provide project management resources, business mentoring, and connections to potential corporate partners.
According to Forbes, the Bharat Web3 Association’s chairman, Dilip Chenoy, described the project as “a truly unique initiative aimed at nurturing and fostering the delicate Web3 ecosystem in India.”
He further added, “We really need more initiatives across the nation to push Web3 to even higher heights,” he continued. “We applaud T-Hub and the Government of Telangana’s Emerging Technologies Wing for all they are doing for the sector.”
