India Blockchain Accelerator shortlists 14 startups for evaluation

Hyderabad: The India Blockchain Accelerator has shortlisted 14 early-stage Web3 startups for the final evaluation round for its first-ever mentorship and financing programme. Launched in December 2021 as a joint initiative of the Telangana government, Crypto investing app CoinSwitch and innovation management firm Lumos Labs, the accelerator provides a $7,00,000 (about Rs 5.2 crore) grant […]

Hyderabad: The India Blockchain Accelerator has shortlisted 14 early-stage Web3 startups for the final evaluation round for its first-ever mentorship and financing programme. Launched in December 2021 as a joint initiative of the Telangana government, Crypto investing app CoinSwitch and innovation management firm Lumos Labs, the accelerator provides a $7,00,000 (about Rs 5.2 crore) grant pool, go-to-market support, and mentorship.

The India Blockchain Accelerator is one of the first State-supported programmes aimed at supporting and equipping deep-tech blockchain startups in India. It received over 270 registrations from Indian and global startups and 14 have been shortlisted. Five best-rated startups will get an opportunity to engage with the Telangana government, CoinSwitch and the investment partners.

“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, hopes to provide opportunities to startups to pilot their solution in Telangana,” said Industries Principal Secretary Jayesh Ranjan.

“Blockchain can solve many of India’s problems, be it in healthcare, infrastructure, logistics or finance. We are honoured to support the Government of Telangana’s vision to become the Blockchain Capital of the World,” said Ashish Singhal, Co-founder and CEO, CoinSwitch.

“We are excited for the innovation these startups have presented and the possibilities that these provide for future solutions to come,” said Kaavya Prasad, Co-founder, Lumos Labs.

The shortlisted startups are: Whrrl, Print2Block, Emertech Innovations, Blockster Labs, The-Ally, Karpine, BirthVenue, Autify Network, The Indian Art Revolution, Eventozo, Nibiaa Devices, MentorPlus (M ), Konct and NFTready.tech. These startups provide blockchain use-cases in fintech, entertainment, sustainability, infrastructure and tooling, agritech, logistics, and healthcare.