On November 7th, 2023, Bitget, a prominent cryptocurrency derivatives and copy trading platform, made a surprise announcement regarding its strategic investment plan in India’s burgeoning blockchain startup landscape. This initiative, aptly named the Blockchain for Youth (B4Y) project, is poised to allocate an impressive $10 million fund dedicated to accelerating innovation and bolstering emerging entrepreneurs within blockchain technology.
Inaugural Bitget B4Y Initiative Just Before BUIDL for Web3
Bitget’s B4Y initiative was announced for the purpose of putting attention toward India’s flourishing blockchain ecosystem. This involves furnishing startups with an array of indispensable resources, state-of-the-art tools, critical funding, and expert mentorship.
The program, which spans one month, was inaugurated with the inclusion of over 100 promising start-ups. From this select group, only the top ten start-ups will be granted the exclusive privilege of presenting their pitches to Bitget. Powerful venture capitalists such as Sequoia Capital, Lightspeed Ventures, and Draper Labs are expected to be present.
The program officially set sail on November 6th and is scheduled to end on December 4th, 2023, coinciding with the esteemed BUIDL for Web3 event. BUIDL for Web3 stands as India’s premier multi-chain summit, curated by Lumos Labs and BuildersTribe and powered by Bitget. The event has the explicit mission of convening a distinguished assembly of developers and entrepreneurial visionaries, set to confront the many challenges and opportunities presented by the Web3 era.
Gracy Chen Highlights India’s Attraction as a Leading Investment Destination in Blockchain
Gracy Chen, the managing director at Bitget, underscored the allure of the Indian blockchain market. She remarked,
“India’s resilience and relentless progression in the realm of blockchain and cryptocurrency position it as a premier investment destination in Asia.”
She further expressed that the wealth of talent and entrepreneurial drive in the Indian blockchain sector creates a highly conducive environment for nurturing innovation. With their pioneering “Blockchain for Youth” project, Bitget eagerly anticipates fostering the development of the next group of trailblazers in the cryptocurrency space.
Bitget: Nurturing Innovation and Expanding Horizons
Bitget, established in 2018, stands as a global leader among cryptocurrency exchanges, notably acclaimed for its copy trading services. With a user base extending to over 20 million individuals across more than 100 countries and regions, Bitget has already achieved strategic partnerships with luminaries such as Argentine football icon Lionel Messi and the renowned eSports events organizer, PGL.
Bitget’s extensive commitment to the Indian blockchain domain is not new. The company has previously invested in Indian startups that exhibited their prowess in the B4Y Under 30 Virtual Hackathon. This competition served as a platform for promising young talents to showcase their innovation within the cryptocurrency and blockchain spheres.
The enthusiasm of India’s youthful population for blockchain technology is a testament to the nation’s emergence as a vibrant hub for innovation and talent. With the launch of Bitget’s pioneering initiative in the Indian market, the company aims to further catalyze the ongoing wave of cryptocurrency adoption within the region.
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