AlgoBharat, T-Hub to fund 20 Web3 startups

Hyderabad: AlgoBharat, the India-focused initiative by Algorand Foundation, has launched its Startup Lab program in collaboration with T-Hub, one of India's prominent incubators. The year-long program aims to assist 20 high-potential Web3 startups in achieving product, market, and funding readiness.

The program offers intensive technical and business mentorship, along with access to pre-seed funding, to the selected startups.

Algorand Foundation and T-Hub have initiated the application process for startup teams across India, seeking innovative Web3 solutions. Applications are open until March 15, 2024, with selectees to be announced on March 18, and the program kickoff scheduled for March 22 at T-Hub's innovation center in Hyderabad.

The Startup Lab focuses on solutions utilizing blockchain technology to drive transparency and inclusivity in sectors such as healthcare, supply chain, sustainability, financial inclusion, and agriculture. Startups reaching key milestones become eligible for pre-seed funding from the Algorand Foundation's India fund.

The program entails technical and solution architecting support from mentors of the Algorand Foundation's global team, alongside project management resources, business mentoring, and strategic guidance from T-Hub. Selected startups also gain access to corporate customers for product pilot testing and investors for funding opportunities.

Anil Kakani, VP and India Country head at Algorand Foundation, said, “This program will provide an opportunity for Web3 startups to get infrastructure support, end-to-end technical and business mentorship, and access to investors and customers to pilot their solutions and scale their ventures. T-Hub is already a mecca for startups in India and the global market; we are thrilled to be the first Layer 1 blockchain protocol to partner with T-Hub to create similar opportunities for the Indian Web3 startup ecosystem.”