• Algorand Impact Summit is one of Asia’s largest blockchain events of the year
• Through these partnerships, AlgoBharat will further enable access to market, capital, and financial services through strategic partnerships
• With a first-of-its-kind partnership with T-Hub, AlgoBharat unveils “Startup Labs” – a 12-month program that will offer end-to-end mentorship to 20 Web3 startups
• On a global level, the Algorand Foundation also announced a partnership with the United Nations Development Programme (UNDP) to launch a blockchain academy that will train 22,000+ UNDP employees in over 170 countries
New Delhi 4th December 2023 – AlgoBharat, the Algorand Foundation’s India-focused project, has pledged its support for the Indian Web3 ecosystem, announcing its commitment at the Algorand Impact Summit, which brought together business leaders, policymakers, NGOs, and developers to discuss blockchain’s potential to tackle global challenges.
A core aspect of Algorand’s mission is to democratize access to markets, capital, and financial services. This vision particularly resonates with the less privileged segments of society, who often find themselves excluded from conventional banking systems. The recent partnerships announced at the Summit are a strategic extension of this vision, promising to unlock new opportunities through the innovative use of blockchain technology.
Staci Warden, the dynamic CEO of the Algorand Foundation, articulated the foundation’s vision for India, stating, “India’s remarkable role in global technological progress has inspired us to establish a distinctive presence in the country. In just a year, our strategic collaborations and innovative blockchain solutions with key players have pioneered financial inclusion, with the potential to impact millions of lives in underserved communities. As we contribute to the growth of the global Web3 ecosystem, our journey in India has only just begun, with much more ground to cover.”
Adding to these sentiments, Anil Kakani, Vice President and India Country Head at Algorand Foundation, emphasized the transformative power of blockchain technologies. He said, “Blockchain technologies can bring profound upliftment by providing greater access to markets, capital, and financial services. The Algorand Impact Summit stands as a testament to our belief in the Indian Web3 ecosystem.” Kakani further highlighted the foundation’s eagerness to witness the real-world impact of these initiatives, particularly in improving access to essential financial services.
In a global context, the Algorand Foundation’s partnership with the United Nations Development Programme (UNDP) signifies a major step forward. This collaboration focuses on establishing the Algorand Blockchain Academy, set to launch in 2024. The academy aims to enhance the UNDP staff’s knowledge and practical skills in blockchain technology, underlining its utility in sustainable development.
The academy’s curriculum will cover critical areas like financial inclusion, supply chain transparency, real-world asset tokenization, and digital identity. It will offer a blend of recorded lectures, interactive workshops, and practical assignments. This educational treasure trove will be accessible to over 22,000 UNDP employees across 170 countries and territories, as well as staff from other UN agencies.
These initiatives by AlgoBharat and the Algorand Foundation represent not just technological advancements but also a step toward a more inclusive and equitable future, where technology is a bridge rather than a barrier.
• A first-of-its-kind partnership with T-Hub, a Telangana government-led prominent tech incubator, to launch “Startup Labs”, a 12-month program that will offer end-to-end mentorship for 20 high-potential Web3 startups.
• A partnership with NASSCOM, through its FutureSkills Prime skilling hub, to provide modular-based training content and assessments to support the training and employability of students and professionals building out their Web3 developer capabilities.
• A partnership with TiE Bangalore with the key objective of fostering the Indian Web3 ecosystem through strategic educational and training initiatives. This partnership will help Algorand establish its foothold with the startup, investor, and tech communities in Bangalore.
• A collaboration with Mann Deshi to develop a blockchain-based credit scorecard and identity system for Mann Deshi Foundation’s women entrepreneurs. The project, which aims to address the challenges created by lack of formal credit histories and limited access to loans, is being rolled out in a phased approach with a select group of women entrepreneurs.
• Launch of the first pilot through our partnership with the Self-Employed Women’s Association (SEWA) to empower women to earn high-value carbon credits through a blockchain-based solution that captures data on the production of renewable gas from biogas digesters.