Leading cryptocurrency derivatives and copy trading platform Bitget has revealed its strategic ambitions to invest in Indian blockchain companies through its $10 million Blockchain4Youth (B4Y) Web3-focused project.
Presented by Lumos Labs and BuidlersTribe, powered by Bitget, the project began on November 6 and will end on December 4, 2023, at BUIDL for Web3, India’s premier multi-chain event. As part of the program, Indian businesses will get the chance to pitch to Bitget and leading venture capitalists in the area at the event.
BUIDL for Web3 seeks to unite thousands of developers and founders to overcome the obstacles. The program lasts for a month and involves the shortlisting of more than 100 startups. Only the top ten companies will have the opportunity to present to Bitget and prominent venture capital firms like Sequoia Capital, Lightspeed Ventures, Draper Labs, and others.
Gracy Chen, managing director of Bitget, says “India’s resilience and constant advancements towards blockchain and crypto makes it the most wanted place to invest in Asia currently. The talent, the entrepreneurial spirit, it’s everything celebratory and we’re here to empower it.”
An open invitation is extended to blockchain enthusiasts, developers, and entrepreneurs working on products related to DeFi, GameFi, the Metaverse, NFTs, tokenized ecosystems, and Blockchain-AI solutions. The eligibility requirements for company pitches include having a minimal viable product with a concrete use case.
Kaavya Prasad, Founder of Lumos Labs, said, “India’s crypto sector has seen remarkable growth and retention, establishing the nation as a global leader in web3 development. The investments and opportunities provided by Bitget’s program offer Indian web3 startups an unparalleled chance to embark on their journey and contribute to sustainable web3 innovation.”