AlgoBharat, the Indian unit of the Singapore-based blockchain firm Algorand Foundation, is ready for the second edition of its Web3-focussed initiative in India. Called the ‘Road to Impact’, this programme is aimed at bringing Web3 developers and startup teams to compete and obtain industry-level mentoring and workshops. This engagement with India’s Web3 talent, as per AlgoBharat, is intended to upgrade India’s digital infrastructure. The first edition of this initiative was launched in 2023.
Nikhil Varma, India Tech Lead at the Algorand Foundation, revealed that cities like Surat and Trivandrum are becoming key hubs for developers creating blockchain solutions tailored to local industries. According to Varma, Indian developers are exploring a range of use cases, with a strong focus on supply chain management, sustainability, healthcare, and MSME financing.
“Road to Impact initiative is based on a philosophy of deep, sustained engagement to help developers advance and market their skills,” the company said in its statement.
Participants in this programme will compete for financial rewards and ALGO credits for mainnet deployment support. The reward for the first prize is $10,000 (roughly Rs. 8.3 lakh) and 2,000 Algos in mainnet credits, information on the website showed.
In the second iteration of Road to Impact, AlgoBharat has decided to add a ‘developer track’ to upskill developers and market their knowledge to meet the demand of Web3 creators around the world. The top ten winners of the developer track initiative will win cash rewards, with the maximum prize capped at $1,000 (roughly Rs. 8.3 lakh) and 100 algos in credit for mainnnet deployment support.
“Studies show that India’s pool of blockchain developers has increased from three percent in 2018 to 12 percent last year. With the objective of building an ecosystem for scalable, sustainable, real-world blockchain solutions, the AlgoBharat Road to Impact aligns with India’s 2047 vision of fostering a digitally empowered society, driving economic growth, addressing social challenges, and promoting global leadership in technology,” the AlgoBharat team added.
AlgoBharat has been connecting with eligible people and projects in Indore, Surat, Delhi, Trivandrum, Pune, Bangalore, Hyderabad, and Kolkata since August.
The programme is slated to begin at the Algorand India Summit in Hyderabad on December 7 and 8 this year, which is expected to bring developers, entrepreneurs, executives, investors, policy officials, and other thought leaders from India under the same roof.
Algorand, through its AlgoBharat initiative, has been actively engaging with India’s Web3 ecosystem for some time. Back in April 2023, AlgoBharat head Anil Kakni had told Gadgets 360 that the platform wishes to help elevate India’s position in fostering Web3 talent. Later, AlgoBharat also joined forces with the Telangana government to familiarise farmers with eco-friendly farming practices through blockchain.
