Bitget Allocates $10 Million for Investment in Indian Blockchain Ventures

Bitget, a prominent cryptocurrency derivatives and copy trading platform, has unveiled its ambitious plans to invest in Indian blockchain startups as part of its Blockchain4Youth (B4Y) Web3 project, backed by $10 million in funding. The initiative, presented by Lumos Labs and BuidlersTribe, in collaboration with Bitget, commenced on November 6 and will run until December 4, 2023, coinciding with BUIDL for Web3, India’s foremost multi-chain event.

During this program, Indian businesses will seize the opportunity to pitch their projects to Bitget and renowned venture capitalists at the event. BUIDL for Web3 aims to unite a plethora of developers and founders, providing solutions to the obstacles they face. The month-long program involves the selection of over 100 startups, with just the top ten gaining the privilege to present their ideas to Bitget and leading venture capital firms like Sequoia Capital, Lightspeed Ventures, Draper Labs, and more.

Bitget’s Managing Director, Gracy Chen, expresses the company’s keen interest in India’s remarkable progress and continued growth in the blockchain and cryptocurrency space. She emphasizes, “India’s abundance of talent and entrepreneurial spirit positions it as a highly attractive investment hub in Asia. We’re here to fuel its potential.”

This program extends a warm invitation to blockchain enthusiasts, developers, and entrepreneurs who are actively involved in creating DeFi, GameFi, the Metaverse, NFTs, tokenized ecosystems, and Blockchain-AI solutions. Eligible companies must have a minimum viable product with a well-defined use case.

Kaavya Prasad, the Founder of Lumos Labs, recognizes the extraordinary growth and sustained momentum in India’s crypto sector, establishing the nation as a global leader in web3 development. Bitget’s program, according to Kaavya, offers Indian web3 startups an unparalleled opportunity to embark on their journey and contribute to sustainable web3 innovation.


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