Indian Government Partners with Blockchain Companies to Accelerate Growth of Startups in The Industry

T-Block Accelerator, an Indian government-led blockchain accelerator program has announced its partnership with 3 global blockchain protocol companies. T-Block’s partnership with Matic Network, Harmony, and Aeternity is aimed to support the growth of blockchain startups across the state.

According to the local news report, T-Block is an innovative public blockchain accelerator organized by Telangana government and Tech Mahindra, which is being run by IBC Media. The innovation is aimed at accelerating the growth of blockchain startups and therefore contributing to the growth of the blockchain industry as a whole. 

T-Block’s partnership with these 3 companies is expected to help startups at all levels of product development and deployment. According to the report, all Indian startups that have the ability to create innovative solutions will secure a spot in the upcoming 4-month intensive training program being facilitated by the 3 blockchain platforms. Through this training, attending startups will be offered with direct technical and financial support from these platforms.

All the 3 companies will be playing key roles in the grooming of these upcoming blockchain startups. The report noted that, Matic Network will help the startups build decentralized applications on the blockchain while Aeternity will assist them create smart contracts for their decentralized apps. Harmony’s contribution is aimed at supporting local fintech startups to create and transact digital assets on its global ledger.

The Matic Network CEO and co-founder, Jaynti Kanani mentioned that, in addition to mentoring these startups, the company’s in-house experts will also join the judges’ panel to select the startups that will go on to the next level of acceleration. He said the company will also aid with financial grants to support them through their journey.

Rama Devi Lanka is the director, Emerging Technologies and Officer on Special Duty, ITE&C Department, Government of Telangana. According to him, building synergies between all the stakeholders in the blockchain ecosystem will propel India’s blockchain revolution.

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