AlgoBharat partners with T-Hub to launch Web 3 startup accelerator programme

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AlgoBharat, an India-focussed-initiative by Algorand Foundation, on February 12 launched its Startup Lab programme at T-Hub. The year-long programme will offer technical and business mentorship and access to pre-seed funding to 20 select Web3 startups, as they get ready with product-market fit.

The application process for the same has already started pan-India and will close on March 15, 2024. The select startups will be announced on March 18 and the programme will commence on March 22 at T-Hub’s nearly six million square foot innovation centre in Hyderabad.

This comes months after the success of Algorand’s Creating Impact Pitch Competition at in Delhi in December 2023. The Startup Lab will be looking for solutions that use blockchain technology to drive transparency and greater inclusivity across verticals including health care, supply chain, sustainability, financial inclusion, and agriculture. Startups achieving critical milestones will be eligible for pre-seed funding from the Algorand Foundation as part of an India fund.

Algorand Foundation will provide technical and solution architecting support by mentors from their global team for each of the Startup Lab Web3 startups, while T-Hub will provide project management resources, business mentoring, strategic guidance, curated introductions to large corporate customers to pilot test their products and more.

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,” he added.

Mahankali Srinivasa Rao, CEO of T-Hub, the Telangana government-led tech incubator, said, “T-Hub's unwavering commitment to fostering entrepreneurship and innovation in India aligns seamlessly with our vision for nurturing Web3 startups. Through this collaboration, we aim to empower the startup community, leveraging our robust ecosystem and expertise.”.