Hyderabad, 3rd August 2018: The International Blockchain Congress, India’s largest industry-blockchain conference, witnessed the launch of Eleven01, a multi-year blockchain initiative that aims to foster an ecosystem for blockchain startups. Eleven01 is a joint collaboration between tech giant Tech Mahindra and the Eleven01 foundation.

The Eleven01 foundation is a blockchain conglomerate that provides services across the blockchain ecosystem and has partnered with Tech Mahindra for technology innovation to create the Eleven01 Protocol - an emerging market centric blockchain protocol which serves as a foundation for decentralized applications.

The protocol will power an entire ecosystem of services for Indian blockchain startups, ranging from advisories, incubators, a center for excellence(COEs) and venture funds. With this, early stage blockchain startups will get every kind of support required from a single, cohesive entity.

Rama Iyer, the India CEO of the Eleven01 Foundation said, “India is teaming with blockchain talent and to truly leverage its potential, we need to build a world-class support ecosystem. Our initiatives at Eleven01 aim to be just that. We will work with the smartest minds in the country to put India on the blockchain map of the world. And with the help of our able partners, it is just a matter of time before India’s blockchain prowess is open for the world to see.

The foundation announced its partnership with over 12 startups. These startups are - XDAT, SOCIO, CWY Coin, Chit Monks, Ewaste, Exchange, Statwig, Authorito, Indrakart, Bolt, Arrivae, Faircent, and Blockcluster.

Key partnerships for the Eleven01 foundation include Tech Mahindra, Nucleus Vision, ICRISAT, Government of Telangana, CGG, Commonwealth Youth Innovation Center, T-hub, and ESCI. The Eleven01 initiative will also announce partnerships with over 50 colleges, who have committed to investing in blockchain education among the country’s youth.

Some of the top blockchain companies have already committed to using the Eleven01 protocol as their primary blockchain platform. These companies will be announced in the coming months.

Abhishek Pitti, the CEO of Nucleus Vision, one of the partnered startups, said, “Eleven01 is a significant step in powering India's Blockchain revolution. I am very excited about the partnership between Eleven01 and Tech Mahindra. With this, we finally have an indigenous solution from India that meets global standards. This initiative puts India on the global frontier of Blockchain development.”