Bitget to invest in Indian blockchain startups to support the on-going crypto adoption

Bitget, the leading cryptocurrency derivatives and copy trading platform, has announced its strategic plans of investing in blockchain startups based in India, under its Blockchain4Youth (B4Y) $10 million Web3-focused project. The initiative kicked off on 6th November and will conclude on 4th December, 2023 at BUIDL for Web3, India’s premier multi-chain summit, organized by Lumos Labs and BuidlersTribe, powered by Bitget. Indian startups will get the opportunity to pitch to Bitget and top VCs within the space during the event as a part of the initiative.

By identifying worthwhile and exciting initiatives in the cryptocurrency area and offering them all-encompassing support, Bitget hopes to accelerate innovation in cutting-edge technology. Bitget has taken a 360-degree stance with the Blockchain4Youth project, intending to invest $10 million in the endeavor over the course of the next five years. In an effort to overcome the obstacles, BUIDL for Web3 seeks to unite thousands of developers and founders. The program lasts for a month and involves the shortlisting of more than 100 businesses. Only the top 10 companies will get the opportunity to present to Bitget and prominent venture capital firms like Sequoia Capital, Lightspeed Ventures, Draper Labs, and others.

“India’s resilience and constant advancements towards blockchain and crypto makes it the most wanted place to invest in Asia currently. The talent, the entrepreneurial spirit, it’s everything celebratory and we’re here to empower it. With our Blockchain4Youth, we look forward to accelerating the next big fours of crypto space,” said Gracy Chen, Managing Director at Bitget.

Previously, Bitget has invested in Indian firms that had advanced to the finals of the B4Y Under 30 Virtual Hackathon. These include HAIr, an AI tool that assists with creating job descriptions, extracting important keywords and details from CVs and job descriptions, facial and audio analysis, data-driven candidate selection for HR, and Derma360, an AI-enabled dermatological app that makes analyzing skin conditions simple and easy. Grease Pencil is an AI-based script writer that can create storyboards with frames and images for an entire script in seconds. All Indian-based developers, entrepreneurs, and founders are eligible to apply for the startup pitch program.