Indian State Gov to Launch Blockchain Accelerator Program

The Indian state government of Telangana partnered with Lumos Labs and CoinSwitch Kuber crypto exchange to launch the Web2 and Web3 startup facilitator.

The state government of Telangana, an Indian state in the southern part of India, has announced its partnership with a technology innovation management firm, Lumos Labs, and a unicorn crypto exchange, CoinSwitch Kuber, to launch India Blockchain Accelerator program. This program will act as a facilitator for early-stage Web2 and Web3 startups and blockchain developers for solving real world challenges.

Rama Devi Lanka (Director Emerging Technology and Officer on Special Duty, ITE&C Department, Government of Telangana) said:

“Some of the interesting use cases that the state has already piloted in Blockchain include - T-Chits (Chit funds in Blockchain), Supply Chain (Seed Traceability), E-voting (Digital Voting platform built using Blockchain and AI) and more.”

She highlighted the state government’s intent of adopting blockchain projects across many use cases. The official announcement says that the concerned program will seek blockchain-based solutions for a wide range of real life problems for multifarious verticals including:

  • Fintech
  • Entertainment
  • Sustainability
  • Infrastructure and Tooling
  • Agritech
  • Logistics
  • Healthcare

The announcement said:

“The Telangana Government will help provide the required regulatory framework to enable and promote blockchain growth.”

While stressing on the state government’s efforts of identifying multifarious use cases in NFTs, DeFi, and other cryptocurrency related initiatives, for mainstream adoption, Rama Devi saud:

“The government of Telangana is also focusing on developing and supporting a large scale of the Indian Blockchain talent pool, hopefully, of around 100K in the next 3-4 quarters.”

Kaavya Prasad (co-founder of Lumos Labs) said:

“A collaborative effort from various State Governments will further accelerate the growth of this space and we would be able to have more streamlined progress.”

Ashish Singhal (Founder and CEO of CoinSwitch Kuber) said:

“As part of the Indian Crypto industry, we shall endeavor to collaborate with the state government to work towards the vision of making Telangana the blockchain capital of the country.”