Get All Access for $5/mo

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.

By Priya Kapoor

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Sumit Kumar Gupta

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.

Priya Kapoor

Former Feature Editor

Priya holds more than a decade of experience in journalism. She has worked on various beats and was chosen as a Road Safety Fellow in 2018, wherein she produced many in-depth & insightful features on road crashes in India. She writes on startups, personal finance and Web3. Outside of work, she likes gardening, driving and reading. 

 

 

 

News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Franchise

Kick-Start Your Small Business With These Cost Effective Strategies

Starting a small business is an exciting adventure, brimming with both opportunities and challenges. A key to success is effectively managing costs from the outset.

Living

70% of Small Business Owners Experience Monthly Burnout. Follow These 3 Rules to Avoid the Same Fate.

Here are three guidelines to help entrepreneurs achieve balance, growth and success in both their professional and personal endeavors.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.