Nurturing Startups and Developers Across India to Shape the Future of the Indian Blockchain EcosystemÂ
Surat 04 September 2024: AlgoBharat, the India initiative of Algorand Foundation, recently launched the second edition of the Road to Impact initiative. A team led by Algorand Foundation’s Tech Lead for India, Dr. Nikhil Varma, travelled through eight cities, with each event bringing together young Web3 developers and startup teams from who will be competing in the four-month-long process of workshops and one-on-one mentoring culminating in the Foundation’s India Summit in early December.
India is emerging as a significant hub for Web3 developers and innovation. According to multiple reports, India is a leader among the emerging markets with some studies showing its share pool of blockchain developers having increased from 3% in 2018 to 12% last year. Unlike many hackathons and other community events, AlgoBharat has pushed a more comprehensive approach to engage and support India’s Web3 developer and startup communities with its Road to Impact initiative that is based on a philosophy of deep, sustained engagement to help developers advance and market their skills. This model is structured to provide continuous on-ground support and training, and use of open-source platforms such that participants are able to incorporate their skills into scalable solutions with real-world impact.
With the objective of building an ecosystem for scalable, sustainable, real-world blockchain solutions, the AlgoBharat Road to Impact aligns with India’s 2047 vision of fostering a digitally empowered society, driving economic growth, addressing social challenges, and promoting global leadership in technology. By nurturing startups and developers, the initiative supports the development of blockchain solutions that enable new business models and position India as a global hub for Web3 innovation.
Nikhil Varma, Algorand Foundation’s Tech Lead for India, shared his enthusiasm: “The passion and creativity emerging from India’s developer community are truly impressive. From Surat to Trivandrum, cities are showcasing blockchain solutions that are revolutionising local industries—whether it’s enhancing supply chains, advancing sustainability, or improving access to health care or MSME financing. These innovations are game-changers, demonstrating that India isn’t just part of the blockchain revolution but leading it. We’re honoured to support these visionary projects and thrilled to see them thrive within the Algorand ecosystem.”
Building on the success of the 2023 Creating Impact! Pitch Competition for startups, AlgoBharat is adding a Developer track to help nurture the skills of individual developers and market their skills to meet the growing global demand for Web3 developer talent.
The AlgoBharat Road to Impact journey has travelled through eight cities – Indore, Surat, Delhi, Trivandrum, Pune, Bangalore, Hyderabad and Kolkata – and will ultimately bring together developers, entrepreneurs, executives, investors, policy officials and other thought leaders at the Algorand India Summit in Hyderabad on December 7 and 8 The summit will spotlight the potential of blockchain solutions, with winners of the Startup Competition and Developer Track showcasing their ideas. Participants will compete for exciting prizes, including financial rewards and ALGO credits for Mainnet deployment support.
