Bitget Offers $100,000 Funding for Indian Web3 Startups
Cryptocurrency exchange Bitget has launched an initiative called Blockchain4Youth, which aims to fund innovative Web3 projects in India. The program offers the opportunity for top shortlisted Indian Web3 companies to receive up to $100,000 in funding as part of a $10 million initiative. The startups presented their projects at Bitget’s first shortlisting round and the top 10 selected startups will pitch at the BUIDL for Web3 Summit’s pitching session SPOTLIGHT.
High Crypto Adoption Among Millennials and GenZ
A survey conducted by Bitget Academy revealed that 46% of millennials own cryptocurrencies, making GenZ and millennials the population groups with the highest rate of crypto adoption. Bitget aims to tap into this market through its Blockchain4Youth initiative. The company believes that the new generation of innovators and founders will come from these demographics and wants to support their development and accelerate crypto adoption in Asia.
Supporting Web3 Startups
The SPOTLIGHT pitching session will provide support to the selected Web3 startups. Kaavya Prasad, Founder of Lumos Labs, stated that SPOTLIGHT will showcase the potential of these startups and offer them support. Raghu Mohan, founder of Buidlers Tribe, emphasized that the web3 technology startup sector is inclusive and innovation-driven, and SPOTLIGHT will encourage innovation and foster decentralized innovation.
Hot Take: Blockchain4Youth Boosts Funding Opportunities for Indian Web3 Startups
Bitget’s Blockchain4Youth initiative is set to provide significant funding opportunities for Indian Web3 startups. With a total investment of $10 million, selected startups have the chance to receive up to $100,000 in funding. This initiative comes at a time when crypto adoption is high among millennials and GenZ, making it an opportune moment to support and accelerate the development of these startups. Through programs like SPOTLIGHT, Bitget aims to showcase the potential of Web3 startups and foster innovation in the web3 technology sector.
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