Hyderabad: 14 beginning phase Web3 new companies from around the world have been shortlisted by the Indian Blockchain Accelerator for its very first mentorship and funding program, on Tuesday. Out of the shortlisted new companies, the five best-evaluated new businesses will introduce their answers for the financial backers on Demo Day to win a 700K dollar award pool, market support, and mentorship.
A joint drive of the state, Coin Switch, and Lumos Labs, India Blockchain Accelerator unites various features of Blockchain innovation under one umbrella.
Out of an astounding 270 candidates, these 14 shortlisted new businesses will get the chance to tweak their business thought and draw in with the speculation partners.
“In line with its vision to be a leader in emerging technologies, 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, 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,” Principal Secretary of ITE&C and Industries, Government of Telangana, Jayesh Ranjan commented.
The shortlisted new companies 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, and NFTready.tech.
“We are excited about the innovation these fourteen startups have presented and the possibilities that these provide for future solutions to come from this ecosystem,” Co-pioneer behind Lumos Labs, Kaavya Prasad said.