Though the Indian Government is still trying to distance from cryptocurrencies, it is open-heartedly welcoming the Blockchain technology behind these crypto assets. Telangana, one of the states in India has launched a Blockchain Accelerator program in collaboration with Tech Mahindra as an extension of its idea to develop a blockchain district dedicated fully to blockchain-related developments and solutions.

The Blockchain Accelerator program will involve selected startups that will pitch innovative concepts about blockchain-related solutions.  These concepts will further be evaluated and approved by technical experts from Telangana Government, Ministry of Electronics and Information Technology, Center for Development of Advanced Computing(C-DAC), Tech Mahindra and IIIT Hyderabad.

T-Block Accelerator Program

The program is dubbed as T-Block Accelerator that will be launched in the exclusively developed Telangana blockchain District and an innovation management firm IBC media will conduct this Accelerator.  25 Selected startups would be inducted for this accelerator program and in the later phase, 5 startups will be filtered for mentorship.

The program has been spread into a period of 4 months and is aimed at startups with strong blockchain use cases. The registration for the T-Block Accelerator program will start next week. It will have 21 weeks boot camp followed by 4 weeks of intensive training along with membership and guidance from the experts in the blockchain industry.

Rajesh Dhuddu, Global Practice Leader of Tech Mahindra revealed that the Accelerator program will include presentations, workshops, and discussions. He further informed that the “T-block Accelerator aims to bridge the gap and take seed and validation level startups with strong business and blockchain use cases."

The idea of Blockchain district

The Blockchain district concept has been conceived back in 2018 for which the Telangana state government signed an agreement with Tech Mahindra to develop the blockchain ecosystem for the district.

Dhuddu quoted, “Our partnership with the Telangana government for the blockchain district desires to build a world-class support infrastructure for blockchain startups.”

Jayesh Ranjan, Principal Secretary of the Telangana Government from ITE&C and Department informed that the blockchain district provides a platform for collectively enabling the stakeholders to create solutions in Blockchain technology. He emphasized that currently the blockchain technology is at the budding stage but has enormous potential to flourish in the near future.

Jayesh Ranjan further quoted,” Telangana is committed to its vision of positioning Hyderabad as one of the leading Blockchain cities in the world. We are happy to set the first edition of the T-Blockchain Accelerator program.”

More about Tech Mahindra

Tech Mahindra Ltd. is an Indian multinational subsidiary firm of the Mahindra Group. Tech Mahindra Ltd. provides technology solutions and outsources business processes in various overseas markets.

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Jayashree Ingle

CBW - External Analyst

INDIA