Bitget proclaims its intention to allocate millions of dollars towards startups based in India as part of the Blockchain for Youth (B4Y) initiative.
On Nov. 7th, Bitget, an esteemed platform for copy trading and cryptocurrency derivatives, surprisingly revealed its strategic investment strategy in the rapidly expanding blockchain startup sector of India.
The Blockchain for Youth (B4Y) project is positioned to distribute a substantial $10 million fund to foster innovation and support young entrepreneurs in the field of blockchain technology.
Bitget’s Inaugural B4Y Initiative Precedes BUIDL for Web3
The announcement of Bitget’s B4Y initiative was intended to draw attention to the thriving blockchain ecosystem in India.
However, this entails providing startups with a diverse range of essential resources, cutting-edge tools, critical funding, and mentorship from industry experts.
The program, which has a duration of one month, was commenced by incorporating over 100 promising startups.
Meanwhile, a limited selection of ten startups will be allowed to present their pitches to Bitget from this select cohort.
It is anticipated that notable venture capital firms, including Lightspeed Ventures, Sequoia Capital, and Draper Labs, will be in attendance.
The program commenced on November 6th and is slated to conclude on December 4th, 2023, the same date as the prestigious BUIDL for Web3 event.
BUIDL for Web3, spearheaded by BuildersTribe and Lumos Labs, is the preeminent multi-chain summit in India, supported by Bitget.
The primary objective of the event is to bring together an esteemed group of developers and visionaries in entrepreneurship who are prepared to tackle the numerous obstacles and prospects that arise in the Web3 era.
Gracy Chen Emphasizes India’s Appeal as a Preeminent Blockchain Investment Destination
Bitget’s managing director, Gracy Chen, emphasized the attractiveness of the blockchain market in India. She expressed,
“India’s resilience and relentless progression in the realm of blockchain and cryptocurrency position it as a premier investment destination in Asia.”
Additionally, she stated that the abundance of skilled individuals and enterprising spirit within the blockchain industry of India fosters an exceptionally favorable atmosphere for cultivating novel ideas.
Bitget is highly optimistic that their innovative “Blockchain for Youth” initiative will facilitate the growth of the next generation of innovators in the cryptocurrency industry.
Bitget, a cryptocurrency exchange that was founded in 2018, is widely recognized on an international level for its exceptional copy trading services.
Furthermore, with a user base exceeding 20 million individuals spanning over 100 countries and regions, Bitget has successfully formed strategic alliances with notable figures, including Lionel Messi, an Argentine football legend, and PGL, a renowned organizer of eSports events.
It is not surprising that Bitget has made such a substantial investment in the Indian blockchain industry.
Prior to this, the organization made investments in Indian firms that demonstrated their capabilities during the B4Y Under 30 Virtual Hackathon.
In addition, the competition functioned as a medium through which bright and prospective young individuals could exhibit innovation in the domains of cryptocurrencies and blockchain.
The enthusiasm with which the youth of India embrace blockchain technology serves as evidence of the country’s burgeoning status as a hub for inventive thinking and exceptional ability.
By introducing its groundbreaking initiative to the Indian market, Bitget seeks to accelerate the current surge in cryptocurrency adoption in the area.
