Hyderabad, the capital city of Telangana, which is well known for its rich cultural heritage is also considered as one of the major IT hubs of India. In its recent initiative to encourage blockchian stat-ups, the Government of Telangana in partnership with Tech Mahindra and IBC Media has launched a blockchain accelerator program named T-block Accelerator.       

Accelerating Blockchain Growth in the City

The blockchain accelerator program is pointed at Deep Tech start-ups with strong blockchain use cases. The 4-month accelerator program supports start-ups that build products and solutions around blockchain. The start-ups selected under the program will be given opportunity to put forward their ideas and will be mentored by blockchain experts. Speaking at launch of the program at Hyderabad, Jayesh Ranjan, Principal Secretary of IT and Industries, Government of Telangana said, “Telangana is committed to its vision of positioning Hyderabad as one of the leading blockchain cities in the world. We are happy to set in motion the first edition of the T-Block Accelerator program. This 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.”   

“Our partnership with the Telangana government for the Blockchain District stems from our desire to build a world-class support infrastructure for blockchain start-ups. Under this program the start-ups will receive mentorship and guidance from leading experts from blockchain space. The programme includes workshops, presentations and discussions,” said Rajesh Dhuddu, Tech Mahindra’s Blockchain Global Practice Leader speaking at the launching event.           

Blockchain District – Towards Robust Ecosystem for Blockchain

The Government of Telangana with an aim to position Hyderabad as the blockchain capital of India has proposed a blockchain district in the city wherein the blockchain companies will be given funding for their research along with land at subsidised rates. For companies in the blockchain district, the government provides 25 percent subsidy on lease rentals upto 5 lakh INR per annum for the first 3 years. The proposed ‘Blockchain District’ in Hyderabad is the first such initiative in the country. This move is expected to create a robust ecosystem of blockchain in Hyderabad.