Hyderabad, November 9, 2024 – The second annual Algorand India Summit wrapped up in Hyderabad with resounding success, reinforcing India’s position as a global leader in blockchain innovation. The two-day event brought together developers, startups, investors, and thought leaders under the theme, “Discover What a Blockchain Can Do.”
With over 1,000 blockchain startups and the third-largest Web3 founder base globally, India’s blockchain ecosystem grew by over 80% in 2024, attracting $460 million in investments in the first nine months alone. The summit became a testament to this remarkable progress, highlighting real-world blockchain solutions that are transforming industries.
Road to Impact: Driving Blockchain Innovation Across India
Algorand’s Road to Impact initiative played a pivotal role in this year’s summit, engaging over 800 developers and startups through workshops in eight cities. Nearly 300 projects focusing on sustainability, financial inclusion, and transparency competed for top honors in the Developer Track and Startup Pitch Competitions. The winners—Team Carret, Team Carbon Trace, and Team Rejolt EdTech—took home prizes exceeding $20,000.
Staci Warden, CEO of Algorand Foundation, remarked, “This year’s summit was a sign of the incredible progress being made in India’s blockchain landscape. At Algorand, we are committed to enabling builders, entrepreneurs, and organizations to leverage blockchain for real-world impact.”
Celebrating Developer Excellence
The summit showcased immersive workshops, project spotlights, and keynote sessions, empowering hundreds of Web3 developers with cutting-edge knowledge in smart contract optimization, blockchain analytics, and decentralized finance (DeFi).
Anil Kakani, VP and India Country Head at Algorand Foundation, emphasized, “This event showcased the innovation and talent driving the Web3 revolution in India in alignment with India’s Viksit Bharat mission.”
Startup Lab: Blockchain in Action
Highlighting its commitment to fostering blockchain entrepreneurship, the summit celebrated the inaugural cohort of the Startup Lab at T-Hub. Key announcements included:
- Terano: Partnering as the summit’s Sustainability Partner and Carbon Offsetting Partner for TIE Delhi NCR.
- Astrix Tribes: Introducing gamified rewards for fan engagement.
- FilmFinance: Collaborating with the Cine Equipment Owners Association of Kerala for decentralized film funding.
- LW3: Launching Digital Product Passport System for electric vehicles in partnership with BatX Energies and others.
- SecureDApp: Advancing blockchain security with cutting-edge solutions recognized by DSCI.
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Enterprise Solutions Empower MSMEs and Women Entrepreneurs
The summit spotlighted blockchain-powered solutions developed with Mann Deshi Foundation and Self Employed Women’s Association (SEWA). These initiatives provide women entrepreneurs and MSMEs access to credit and healthcare through identity-backed credentials.
Recognizing Leadership and Community Contributions
The Algorand Leadership and Community Awards honored:
- Dr. RS Sharma, ONDC Chairman.
- Mr. Srinivas Mahankali Rao (MSR), Former CEO, T-Hub.
- Jawaharlal Nehru Technological University, Hyderabad, for advancing blockchain education.
About Algorand Foundation
The Algorand Foundation is dedicated to fulfilling the promise of a borderless global economy through its groundbreaking blockchain technology. Designed by MIT Professor and Turing Award winner Silvio Micali, Algorand achieves speed, finality, and low costs, driving the future of decentralized innovation.
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