- Bitget plans to invest in Indian blockchain startups under the $10M BlockchainForYouth Fund.
- Bitget is sponsoring India’s BUIDL for Web3 summit under the B4Y initiative.
- The $10 million investment aims to nurture high-potential crypto projects for innovation in new technologies.
The renowned crypto derivatives and copy trading platform Bitget has made public its intent to channel significant investments into Indian-based blockchain startups. The exchange proclaimed this development in a recent statement, noting that it is part of Bitget’s Blockchain4Youth (B4Y) initiative, which has earmarked $10 million for Web3-focused projects.
According to the notification, the initiative is launching today, November 6, and will run until December 4, 2023, sponsoring BUIDL for Web3, India’s leading multi-chain summit. Notably, this summit, powered by Bitget, is a collaboration between Lumos Labs and BuidlersTribe. The exchange noted that the summit will provide a platform for Indian startups to present their ideas to Bitget and prominent venture capitalists.
Furthermore, Bitget stated that the purpose of its investment is to seek out and nurture high-potential projects in the crypto space, supporting them financially to spur innovation in new technologies. Therefore, Bitget has proclaimed that under the Blockchain4Youth project, it will allocate $10 million in investments over the coming five years.
Gracy Chen, the managing director at Bitget, praised India’s growing blockchain and crypto sectors. Chen highlighted the country as a prime investment destination in Asia, given the talent and entrepreneurial spirit in India. The Bitget managing director emphasized that the Bitget team looks forward to propelling the next leaders of the crypto space with the Blockchain4Youth program.
It is worth mentioning that BUIDL for Web3 is designed to attract thousands of developers and founders to showcase their resilience and creativity. The month-long program will start by shortlisting over 100 startups. After that, ten will be selected to pitch their projects to Bitget and notable venture capitalists like Sequoia Capital, Lightspeed Ventures, and Draper Labs. Notably, Bitget has created a dedicated portal accepting applications from interested startups.
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