Bitget, the renowned crypto derivatives and copy trading platform, has unveiled its plans to make substantial investments in blockchain startups based in India. This announcement is part of Bitget’s Blockchain4Youth (B4Y) initiative, which has allocated $10 million for projects focused on Web3 technologies.
The initiative officially launches today, November 6, and will continue until December 4, 2023. It will be supporting BUIDL for Web3, which is India’s premier multi-chain summit and is powered by Bitget in collaboration with Lumos Labs and BuidlersTribe. This summit will serve as a platform for Indian startups to showcase their concepts to Bitget and prominent venture capitalists.
Bitget’s investment aims to identify and nurture promising projects in the cryptocurrency space by providing them with financial support to encourage innovation in emerging technologies. Under the Blockchain4Youth project, Bitget has committed to investing $10 million over the next five years.
Gracy Chen, the managing director at Bitget, praised India’s flourishing blockchain and crypto sectors, highlighting the country’s potential as a significant investment destination in Asia due to its talent and entrepreneurial drive. The Bitget team is excited about fostering the future leaders of the cryptocurrency industry through the Blockchain4Youth program.
Notably, BUIDL for Web3 aims to attract thousands of developers and founders to showcase their ingenuity and resilience. The program will begin by shortlisting over 100 startups, with ten eventually chosen to present their projects to Bitget and prominent venture capitalists such as Sequoia Capital, Lightspeed Ventures, and Draper Labs. Bitget has also set up a dedicated portal to accept applications from interested startups.
