AlgoBharat, the Indian arm of the Singapore-based blockchain company Algorand Foundation, is gearing up for the second edition of its Web3-focused initiative in India. Known as the ‘Road to Impact’, this program aims to bring together Web3 developers and startup teams to compete and gain industry-level mentoring and workshops. The primary goal of this engagement, according to AlgoBharat, is to enhance India’s digital infrastructure. The inaugural edition of this initiative was launched in 2023, with Nikhil Varma, India Tech Lead at the Algorand Foundation, pointing out Surat and Trivandrum as emerging hubs for developers creating blockchain solutions tailored to local industries.
Indian developers are actively exploring various use cases, with a particular emphasis on supply chain management, sustainability, healthcare, and MSME financing. The ‘Road to Impact’ initiative follows a philosophy of deep and sustained engagement to assist developers in advancing and marketing their skills. Participants in the program will have the opportunity to compete for financial rewards and ALGO credits for mainnet deployment support. The first prize for this competition includes $10,000 (approximately Rs. 8.3 lakh) and 2,000 Algos in mainnet credits, as per information available on the program’s website.
In the second iteration of the ‘Road to Impact’ initiative, AlgoBharat has introduced a ‘developer track’ aiming to enhance developers’ skills and help them market their knowledge to meet the demands of Web3 creators globally. The top ten winners of the developer track initiative will receive cash rewards, with the maximum prize set at $1,000 (roughly Rs. 8.3 lakh) and 100 algos in credit for mainnet deployment support. Studies have shown that India’s pool of blockchain developers increased from three percent in 2018 to 12 percent in the past year. With a focus on building an ecosystem for scalable, sustainable, real-world blockchain solutions, AlgoBharat’s ‘Road to Impact’ aligns with India’s vision of fostering a digitally empowered society by 2047.
AlgoBharat has been actively engaging with eligible individuals and projects in cities like Indore, Surat, Delhi, Trivandrum, Pune, Bangalore, Hyderabad, and Kolkata since August. The program is expected to kick off at the Algorand India Summit in Hyderabad on December 7 and 8, bringing together developers, entrepreneurs, executives, investors, policy officials, and other thought leaders from India. Through its AlgoBharat initiative, Algorand has been making efforts to actively engage with India’s Web3 ecosystem. Earlier this year, Anil Kakni, head of AlgoBharat, expressed the platform’s dedication to elevating India’s position in nurturing Web3 talent. Furthermore, AlgoBharat collaborated with the Telangana government to introduce eco-friendly farming practices to farmers using blockchain technology.
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