CoinDCX, Solana Foundation, Launch INR 25Cr Grant Programme for Indian Web3 developers The grant application process is open to all, including individuals, independent teams, governmental bodies, non-profit organizations, corporate entities, universities, and academic institutions.
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In partnership with Solana Foundation, Indian crypto exchange CoinDCX has announced a grant programme for Indian Web3 developers. The grant, worth INR 25 crore, aims to help bootstrapped Indian Web3 developers designing products on the Solana blockchain.
Announcing this, CoinDCX said this initiative comes along the sidelines of this year's Republic Day theme of 'Vikasit Bharat' (Developed India). In the coming months, the capital from this grant will be used towards initiating advanced blockchain education programmes as well as hackathon-like competitions within Web3 developers. CoinDCX Ventures has also decided to invest in the best teams emerging from these hackathons.
"We need to cultivate talent for sustained market share and leadership in blockchain software development. With India already contributing 11 percent of global web3 developers, I expect an encouraging ecosystem and government support to transform the country into a web3 powerhouse," said Sumit Gupta, Co-Founder, CoinDCX.
According to Gupta, Web3 firms in India must draw parallels with India's overall mammoth IT industry that currently has a valuation of $200 billion (roughly INR. 16,62,210 crore) and is poised to reach $350 billion (roughly Rs. 29,09,292 crore) in revenues by 2030.
As part of the deal, Solana Foundation will work with CoinDCX to advance real-world use cases of public blockchains, such as loyalty programs and tokenisation of real-world assets like stocks, bonds, and real estate.
The grant application process is open to all, including individuals, independent teams, governmental bodies, non-profit organizations, corporate entities, universities, and academic institutions.
Successful grantees will receive invitations to join Superteam India—an exclusive, self-organized community of Solana ecosystem contributors dedicated to building the next generation of internet applications and protocols. The INR 25 crore grant programme will be utilized to advance blockchain education and hackathons, and drive public blockchain adoption.