Avalanche Launches $100K Fund to Triple India's Web3 Startups by 2026
Avalanche, a leading blockchain platform, has launched a significant initiative to boost India's Web3 ecosystem. The Colorado Avalanche Mini Grants fund, worth $100,000, aims to triple the number of Web3 startups in the country to 2000 by 2026. India is already projected to become the largest Web3 developer hub globally by 2028, with 1200 startups currently operating.
The Colorado Avalanche fund, a collaboration between Avalanche and Team1, will provide selected projects with funding, mentorship, access to Avalanche's tools, and opportunities for collaboration. Avalanche's confidence in India's potential is evident, with the company betting on the country's large talent pool, business-friendly policies, and robust digital infrastructure to create one of the world's largest Web3 ecosystems.
Avalanche has already taken steps to foster this growth, recently partnering with Indian state governments to tokenize land assets and with global digital exchange Bitget to strengthen the Web3 ecosystem. The first demo presentation in collaboration with Team1 to select potential projects and startups will be held in an Indian city, yet to be announced.
The Colorado Avalanche Mini Grants fund aims to empower and accelerate India's Web3 ecosystem, with a particular focus on supporting young developers under the age of 27. Through this initiative, Avalanche and Team1 are not only investing in the growth of Web3 in India but also fostering innovation and entrepreneurship among the country's tech talent.
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