AlgoBharat expands its partnership with T-Hub; invites applications for the Algorand Startup Lab Program
The Startup Lab is a year-long program designed to help 20 high-potential Web3 startups achieve product, market, and funding readiness
Hyderabad, 12th Feb 2024: AlgoBharat, Algorand Foundation’s India-focused initiative, today announced the official launch of its Startup Lab program at T-Hub, one of India’s leading incubators. Startup Lab is a year-long program that will offer intensive technical and business mentorship and access to pre-seed funding to twenty select Web3 startups as they move toward product, market, and funding readiness.
Algorand Foundation and T-Hub announced the commencement of the application process for pan-India startup teams who are invited to demonstrate their innovative and impact-driven Web3 solutions. The application process runs through March 15, 2024, with selectees to be announced on March 18 and program kickoff slated for March 22 at T-Hub’s nearly six million square foot innovation centre in Hyderabad. Building off the success of the Creating Impact Pitch Competition that culminated at the Algorand Impact Summit in Delhi in December 2023, the Startup Lab seeks 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 play a central role in offering technical and solution architecting support by dedicated mentors from their global team for each of the Startup Lab Web3 startups. Simultaneously, T-Hub will provide dedicated project management resources, business mentoring, strategic guidance, curated introductions to large corporate customers to pilot test their products, and access to premier angel and institutional investors along with physical meeting space.
Anil Kakani, VP and India Country head at Algorand Foundation, said, “We are excited to kickstart the Algorand Startup Lab program for our remarkable Web3 startups in India at the world’s largest innovation hub and startup ecosystem. 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.”
Mahankali Srinivasa Rao, CEO of T-Hub, the Telangana government-led tech incubator, said, “We are thrilled to partner with Algorand Foundation. 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. Together, we look forward to embarking on a transformative journey for Web3 startups, propelling them towards success and leaving an indelible mark on India's startup landscape”.
T-Hub stands at the intersection of the startup, academic, corporate, research, and government sectors. Since its inauguration eight years ago, T-Hub has pivoted around the 6Ms (Mentors, Market, Motivation, Manpower, Money, Methodologies) and 2Ps (Partnerships & Policy advisory) framework with a mission of driving results and collaboration for entrepreneurs’ success. With its impressive track record of nurturing over 3,000 startups, 150 mentors, and 350 corporate partners, T-hub’s startups have raised a remarkable $1.9 billion in investments. It has delivered 100 innovation programs so far, creating an impact for start-ups, corporations, and other innovation ecosystem stakeholders.
Earlier in December at its marquee Impact Summit, Algorand announced a series of partnerships with key institutions and organizations, including T-Hub, TiE Bangalore, NASSCOM, SEWA, and Mann Deshi, with the central themes of upskilling and supporting the next generation of India’s developers, and using blockchain technology to help create a more inclusive economy. Through its partnership with T-Hub, AlgoBharat looks to advance its work under both themes.