Bitget intends to use its $10 million BlockchainForYouth Fund to finance blockchain businesses in India.
Bitget, a popular cryptocurrency derivatives and copy trading platform, has announced plans to invest heavily in Indian blockchain firms. Bitget’s Blockchain4Youth (B4Y) program has set aside $10 million for Web3-focused companies, and the exchange has now released a statement proclaiming this development.
The announcement states that the project began today, November 6th, and will continue to fund BUIDL for Web3, India’s biggest multi-chain convention, until December 4th, 2023. This summit is a joint effort of Lumos Labs and BuildersTribe, and it is being powered by Bitget. The conversation centered on the fact that the summit would provide Indian businesses a chance to pitch their ideas to Bitget and other notable VCs.
Bitget has said that it invests in promising blockchain initiatives with the intention of fostering their growth and providing financial backing to encourage technological advancement. As a result, Bitget has announced that over the next five years, it would spend $10 million in the Blockchain4Youth initiative.
Bitget’s CEO, Gracy Chen, has praised the progress being made in the Indian blockchain and cryptocurrency industries. Chen cited India’s skilled workforce and entrepreneurial spirit as reasons for the country’s prominence as an attractive investment location in Asia. The Blockchain4Youth initiative is something that the Bitget team is really excited about, as the managing director of Bitget stressed.
The objective of BUIDL for Web3 is to provide thousands of engineers and startup entrepreneurs a platform to flaunt their tenacity and innovation. More than a hundred firms will be chosen for the final round of the month-long program. Then, 10 will be chosen to present their ideas to Bitget and prominent VCs such as Sequoia Capital, Lightspeed Ventures, and Draper Labs. Bitget, in particular, has built a site just for startup applications.
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