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Indian IT firm launches accelerator program for Telangana's ‘Blockchain District’

Image by Tech Mahindra from YouTube

Tue, 04 Feb 2020, 09:08 am UTC

Indian IT firm Tech Mahindra has collaborated with the government of Telangana to launch a blockchain accelerator program called “T-Block Accelerator” for the newly created Telangana “Blockchain District,” The Hindu Business Line reported.

The company inked an agreement with the state government to develop a blockchain district in 2018. The objective was to help and support startups with strong blockchain use-cases.

“It will help them fine-tune their product development,” a Tech Mahindra executive said while quoting research firm Garner which reveals that blockchain could generate more than $3 trillion in annual business value by 2030.

“The T-Block Accelerator aims to bridge this gap and take seed and validation level start-ups with strong business and blockchain use cases,” he added.

Initially, around 25 startups will be selected for the accelerator program. However, only five of these will then be shortlisted for the next phase. The program will be run by IBC Media, a marketing solution company.

The registrations for the accelerator program are now open. The program will kick-off with a one-week boot camp followed by a four-week long intensive training program.

“The start-ups will receive mentorship and guidance from leading experts in the start-up and blockchain space. The programme includes workshops, presentations and discussions,” said Rajesh Dhuddu, Global Practice Leader, Blockchain, Tech Mahindra.

Meanwhile, the National Institute for Smart Governance (NISG) has published a draft document on the country's national blockchain strategy. Among other things, the NISG has urged the government and the Reserve Bank of India to come up with a central bank digital currency (CBDC) or a state-backed digital rupee.

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