Thursday July 7, 2022

The India Blockchain Accelerator, a joint initiative of the government of Telangana, CoinSwitch and Lumos Labs, has shortlisted 14 early-stage Web3 startups for the final evaluation of its mentorship and financing program. 

The government has taken up initiatives to develop an ecosystem for the industry in the state, Jayesh Ranjan, principal secretary, ITE&C and industries, government of Telangana, commented. “Realising 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,” he added.

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 and NFTready.tech. These startups provide blockchain use-cases in fintech, entertainment, sustainability, infrastructure and tooling, agritech, logistics and healthcare. 

The company has announced the shortlist of The India Blockchain Accelerator, Ashish Singhal, co-founder and CEO, CoinSwitch, said. “Blockchain has real-world utility and can solve many of India’s problems, be it in healthcare, infrastructure, logistics or finance. We are supporting the government of Telangana’s vision to become the blockchain capital of the world and play an active role in building a Web3 ecosystem of cutting-edge technologies and companies in India, for the world,” he highlighted.

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“Through the period of this program, the spirit of innovation at the grassroot stage can be seen. We are looking forward to the innovation these fifteen startups have presented and the possibilities that these provide for future solutions to come from this ecosystem,” Kaavya Prasad, co-founder, Lumos Labs, said.

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As per the company, the 14 shortlisted startups will get an opportunity to fine-tune their business idea in the evaluation stage and engage with the government of Telangana, CoinSwitch and the investment partners. 

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