NEAR Protocol introduces its first India Accelerator program based on Blockchain Technology By CIOReviewIndia Team

NEAR Protocol introduces its first India Accelerator program based on Blockchain Technology

CIOReviewIndia Team | Thursday, 20 May 2021, 04:17 IST

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NEAR Protocol introduces its first India Accelerator program based on Blockchain TechnologyNEAR an open source platform aimed at accelerating the development of decentralized applications, has announced the launch of their first India focussed NEAR India Accelerator program.

Woodstock Fund, a DLT-focussed multi-asset investment fund, and Fracton Ventures, a prominent Web 3.0 focused Japanese investment and development platform, have joined the accelerator as investment partners and Go-to-Market access Partners respectively. The NEAR India Accelerator aims to nurture and identify upcoming Indian startups that want to innovate in the blockchain space, build impactful products that solve real-world problems, and strengthen India’s block chain prowess in the global ecosystem.

Through the accelerator, NEAR Foundation and Woodstock Fund will cumulatively offer up to US$200k in funding along with mentorship from global experts in the blockchain and startup space, go-to-market access to the NEAR and Woodstock Fund’s expansive ecosystem along with marketing support to innovative startups with impactful solutions built on the NEAR protocol for real-world problems. Fracton Ventures will provide Go-to-Market support in Japan and will open up opportunities for the participating startups in the Japanese blockchain and investment ecosystem.

“NEAR is first and foremost a community for entrepreneurs and creators, and the startup ecosystem in India has quickly become a leading source of blockchain innovation and entrepreneurship. I have no doubt that some of the leading ideas and transformations across industries will emerge from India in the years to come, so launching the NEAR India Accelerator program was the obvious choice for our community,” said Erik Trautman, CEO of NEAR Foundation.

“India’s startup ecosystem is already solving some of the most critical issues facing the country today, and with this accelerator program, we aim to highlight these efforts and empower up-and-coming entrepreneurs to bring new ideas to life and to propel India forward as a powerhouse in global blockchain-led innovation,” he added.

Across three months, the accelerator program is open to creators, innovators, startups, and developers from all over India working on projects that are past the proof-of-concept phase to build unique and creative products utilizing digital assets and blockchain technology.

The NEAR India Accelerator will be interspersed with meet ups before the closure of registrations which will be followed by a two-week-long boot camp for selected registrants.

The startups that make it through a boot camp will be invited to pitch at the demo day for up to US$100k in funding. The inaugural meetups of the NEAR  India Accelerator will be directed towards providing adequate support, mentorship, and knowledge to help the participants build their business solutions on the NEAR platform. The Accelerator will focus on startups with cutting-edge ideas, relevant blockchain use cases, and a committed team.

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