Algorand Foundation, an organisation that’s focused on growing the ecosystem for advanced and secure layer-1 blockchain has announced broad-reaching partnerships in India.
As India gets set to surpass China and become the world’s most populous country, the Foundation is focused on supporting the creation of employment opportunities and solutions that will serve India’s population.
Algorand has also become the first layer-1 blockchain protocol to partner with T-Hub, one of India’s premier innovation hubs.
Web3 ecosystem
M. S. Rao, T-Hub CEO commented, “T-Hub and Telangana state are committed to supporting a Web3 ecosystem of entrepreneurs, developers and creators. Our new partnership with Algorand, especially given the sustainability and real world utility of its blockchain in a market like India, is strong evidence of that. This partnership will help our ecosystem scale globally and access capital from around the world.”
This partnership will allow the Foundation to support startups and established companies building high-impact, scalable blockchain-based solutions. The organisation has also partnered with Jawaharlal Nehru Technological University Hyderabad and the Indian School of Business to launch faculty development programs, student developer training, and a master class series for companies looking to transition critical business processes to Web3.
In celebrating the new fund, the Algorand Foundation and its CEO Staci Warden have joined Former U.S. Secretary of State Hillary Rodham Clinton and The Clinton Foundation in Ahmedabad. The fund, in part, will help local entrepreneurs connect with the carbon markets and monetise carbon credits that their activities generate.
An inclusive blockchain
“At the Algorand Foundation, we are deeply committed to ensuring blockchain lives up to its potential in creating a more inclusive economy in India and across the globe,” said Warden. “I am thrilled to be back in India, and especially to see the embrace and enthusiasm by people across the country for technology that can so significantly and positively impact their quality of life.”
Through business accelerator programs and seed investments, Algorand will also support women-led enterprises building solutions to increase the financial inclusion and empowerment of SEWA members and low-income working women across India. The organisation’s focus on India follows the Foundation’s recent appointment of Anil Kakani as India’s Country Head.
“The partnerships we are formalizing this week with India’s most respected institutions and organizations are reflective of the reliability, scalability and real world utility of Algorand’s blockchain technology,” said Kakani. “Our mission is built around sustainable impact. We are ready to take center stage in India and across the globe to fuel world-changing solutions to improve access to financial services, health care, education and so many other critical applications.”
In addition, Algorand will act as a technology partner for the new $50 million Global Climate Resilience Fund – launched by the Clinton Foundation and its Clinton Global Initiative, with SEWA as a founding partner.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
