News Update

Algorand and T-Hub collaborate on Web3 startup lab initiative

• ByStartupStory     |    February 21, 2024

The Algorand Foundation’s AlgoBharat initiative has launched the Algorand Startup Lab program in partnership with T-Hub, aiming to support Web3 startups in India. Staci Warden, CEO of the Algorand Foundation, emphasized their commitment to developer-centric focus, stating, “We’ve seen that developers care about the quality of the protocol more than they care about how easy it is to build on the protocol.” Anil Kakani, VP and India Country Head at Algorand Foundation, expressed anticipation for the program, saying, “We are looking forward to kickstarting the Algorand Startup Lab program for our Web3 startups in India at the world’s innovation hub and startup ecosystem.”

This year-long initiative will offer technical and business mentorship, access to pre-seed funding, and other support to twenty selected startups. The application process is currently open nationwide until March 15, 2024. Kakani highlighted the collaboration with T-Hub, noting, “With the T-Hub, we see excitement from young developers to be working on a project that’s somehow positively beneficial for our country.” Dilip Chenoy, Chairman of the Bharat Web3 Association, praised the initiative as “a truly unique initiative aimed at nurturing and fostering the delicate Web3 ecosystem in India.”

The program targets Web3 startups leveraging blockchain technology to enhance transparency and inclusivity across various sectors. Selected startups will have the chance to receive pre-seed funding from the Algorand Foundation’s India fund upon achieving significant milestones. T-Hub will contribute project management resources, business mentoring, and strategic guidance, facilitating introductions to potential corporate partners for product pilot testing.

The initiative builds on the success of Algorand’s Creating Impact Pitch Competition and the subsequent Algorand Impact Summit in Delhi. The selected startups will kick off the program on March 22 at T-Hub’s innovation center in Hyderabad. Warden reiterated the Foundation’s priority to simplify technology for developers, stating, “And so we at the Foundation have made this our number one priority for 2023. And again, for 2024, to make the technology easy for developers.”

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