A study from blockchain data platform Chainalysis reveals that crypto investments in India grew to $6.6 Bn in May 2021 from $923 Mn in April 2020.
While Asia leads crypto adoption globally, India ranks third among currency holders, just behind Vietnam and Indonesia. The trend remains consistent, but of late, the youngsters from small towns are essentially leading the change.
Currently, the volatile yet booming crypto market has turned white-hot, with players like CoinDCX, CoinSwitch Kuber, WazirX and the rest competing for a bigger slice of the pie. However, investments and crypto transactions are just one part of the crypto industry. Starting with decentralised finance (DeFi) in the BFSI sector and non-fungible tokens (NFTs) in the creator economy, blockchain technology is set to disrupt almost every industry.
Thanks to its trustless, open and decentralised nature with no room for the modification of printed transactions, blockchain is expected to do away with middlemen in every industry, be it finance, healthcare, education or supply chain. It also means that the centralised models of GAFA (Google, Apple, Facebook and Amazon) and BAT (Baidu Alibaba Tencent) will be redefined without much ado.
The crypto ecosystem in India is adapting and evolving, and we think there is no better time than now to discuss more, capture the trends and peek into the future. That is one of the key reasons we are hosting The Crypto Summit 2021, India’s largest crypto and blockchain event, on 18-19 September, in association with CoinSwitch Kuber and Tezos.
But a conference is incomplete without highlighting new-age innovations. Hence, we are happy to announce Pitch42 in association with BuidlersTribe, an initiative to discover India’s hottest blockchain startups.
With Pitch42, 10 startups will get a chance to pitch in front of 1,000+ delegates during The Crypto Summit, and the top 3 startups will win $25K each from BuidlersTribe.
Pitch42: A Quest For India’s Hottest Blockchain Startups
What Is Pitch42?
The year 2021 has been quite exciting for blockchain funding in India. But a large number of blockchain startups are still underfunded. Inc42 is inviting such blockchain startups that have the potential to disrupt the market through adequate exposure, industry feedback, experts’ handholding and much more.
Based on founders’ perseverance, the overall utility of network-based products, the need for product decentralisation and traction, we will select 10 startups that will pitch to the jury during The Crypto Summit.
If you are building a blockchain-based platform or an application or a protocol that you think may disrupt the market, either horizontally or vertically, or has the potential to create a new market, apply now!
- Shouldn’t have raised more than $1 Mn in funding or grant
- Shouldn’t be more than 3 years old
- Must have at least 1 Indian founder
- Founders must be involved with the project/startup full-time
The last day to apply is September 7, 2021.
The Boot Camp And The Pitch
After going through the first round of pitches and interviews, we will shortlist the top 10 startups for the boot camp by BuidlersTribe. During the three-day boot camp, we will bring together experts such as BuidlersTribe’s Pareen Lathia, Harsh Rajat of EPNS, Coin Crunch’s Naimish Sanghvi and Lumos Labs’ Kaavya Prasad to help the shortlisted companies prepare for the big pitch scheduled for September 19.
Based on the learnings from the three-day boot camp, it will be time for you to put knowledge into action. The startups will be invited to pitch to a jury comprising investors, founders and experts on September 19 at The Crypto Summit.
What Will The Winners Get
The top 3 startups will receive a grant of $25K each from BuidlersTribe, and the top 10 startups will get direct entry to BuidlersTribe’s incubation programme.
The programme will be free for top 10 startups and will include:
- 1-month free incubation programme
- Sessions held by experts specialising in product, tech, marketing, funding, growth, community and UX
- Private AMAs with experts from the crypto industry
With the evolution of cross-chain and multichain platforms, we are transitioning from the PoC (Proof-of-concept) phase to real-life applications where startups are now building blockchain solutions to secure personal/health data, NFT-based marketplaces, cross-border payments solutions, real estate solutions, e-voting solutions, DeFi projects and more.
If you are building any such decentralised project, here is your chance to get discovered.
Update: 11th Sept, 2:50 PM
The earlier version of the story had an incorrect depiction of the India map, the same has been updated. We apologies for the error.