Indian State Gov’t Partners With Blockchain Firms to Drive Tech Growth

T-Block, an Indian government-led blockchain accelerator program by the State Government of Telangana and Tech Mahindra, has partnered with blockchain companies Matic Network, Harmony, and Aeternity to support the growth of blockchain startups across the state.

Local news outlet Telangana Today reported on May 7 that the three blockchain platforms will help Telangana-based startups work on “strong blockchain use-case” with their blockchain solutions. 

Providing technical support at all levels

T-Block’s collaboration with the above-mentioned companies is expected to help startups at all levels of product development and deployment. Indian startups that are able to create innovative solutions will secure a spot in the four-month intensive training program, where they will get direct technical and financial support from the three blockchain platforms. 

CEO and co-founder of Matic Network, Jaynti Kanani, said, “In addition to mentoring the startups, our in-house experts will also join the judges’ panel to select the startups that will go on to the next level of acceleration and aid with financial grants to support the startups through their journey.”

Matic Network is said to help the startups build decentralized applications on the blockchain while Aeternity, founded by the “Godfather of Ethereum” Yanislav Malahov, will help them create smart contracts for their decentralized apps. Telangana’s partnership with Harmony is aimed at helping local fintech startups experiment with digital assets. 

Besides technology implementation, the accelerator program also plans to provide startups with support in Europe to push their ideas further into the market. 

The Telangana government’s blockchain initiative and emerging technologies director Rama Devi Lanka said:

“As the first government-led blockchain accelerator, this partnership is a true testimony to how a synergy between the government body and private players can support innovators in their entrepreneurial journey and will help build, scale, and create amazing opportunities for startups.”