India’s Telangana State Sets the Ball Rolling with Blockchain-Centered Incubator
The administration of Telangana, a Southern Indian State, has announced the setting up of an incubator meant for startups in the blockchain technology field. As reported by The Times of India on Feb 4, it will be established in collaboration with reputable educational institutions in the state, such as IIIT-Hyderabad and the Indian School of Business.
Telangana’s Notable Stride in Blockchain
During the rollout of a blockchain accelerator dubbed T-Block, Rama Devi, a senior state official of the Information Technology, Electronics & Communications (ITE&C) department, revealed the kickoff of the blockchain-centered incubator.
She noted, “We have developed 12 use-cases wherein Blockchain technology can be used to solve some of the issues faced by citizens… in the coming days, we are coming up with multiple initiatives such as setting up incubators.”
She added, “For this purpose, we are soon going to set up multiple incubators in IIIT-H and ISB. These incubators will be physical spaces that will provide the startups access to relevant tech support and mentorship.”
Expressly, the T-Block accelerator comprises of a four-month program presented by the Telangana government in collaboration with IBC Media, Microsoft, and Tech Mahindra. It seeks to bridge the gap endured by Indian startups as they only leap 0.2% from blockchain investments.
Upon joining the accelerator, startups will be availed with a one-week boot camp to be followed by a month-long training event to be spearheaded by gurus in the blockchain space.
The Principal Secretary ITE&C department, Jayesh Ranjan, acknowledged, “T-Block Accelerator will be a torch-bearer to multiple future Blockchain accelerators in the country, and we are excited to partner with Tech Mahindra to identify and promote innovative Blockchain-based solutions to solve real-world problems.”
Telangana State has been making considerable strides in the blockchain arena. For instance, in November 2019, it revealed that it could deploy blockchain to stamp out fraudulent academic certificates following distress calls by the US Embassy that some students and employees were using them for application purposes.