India has emerged as a fertile ground for Web3 startups, with a growing number of entrepreneurs venturing into blockchain, cryptocurrencies, and decentralised technologies This vibrant ecosystem has tremendous potential to transform industries and contribute to India’s economic growth. The growing synergy between Web3 startups and the Indian government makes it amply clear that Web3 and Blockchain have created a solid foundation for mass adoption.
We are delighted to see initiatives such as Algobharat, Regulatory Sandbox, and a startup-friendly environment created by the government. Such initiatives will not only create jobs for the youth of the country but also bring in a lot of foreign investment to create a thriving Web3 startup ecosystem in India.
At Tezos India, we are working tirelessly to drive mass adoption of blockchain and we have created layers of initiatives to enable penetration of Web3 and Blockchain to the remotest parts of India. Our recently concluded TEZASIA Hackathon 2023 saw a 43% jump in female blockchain developers and witnessed more than 1000 ideas submissions from young students.
Tezos India is also supporting startups by giving grants and prizes to deserving startups with huge business potential. Tezos India leadership team is also providing mentorship support to young founders and collaborating with them at the incubation stage for creating a bug-free business model.
We remain optimistic that India will lead the world in blockchain innovation by leveraging the power of its technical workforce and a ready market for using Web3-related products and services.