Bitget invests $10 million in Indian blockchain startup

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Bitget invests $10 million in Indian blockchain startup
Bitget invests $10 million in Indian blockchain startup

Well-known cryptocurrency documentary and derivatives trading platform Bitjet has publicly announced its intention to invest heavily in Indian blockchain startups.

The exchange announced the development in a recent statement, noting that it is part of Bitget’s Blockchain4Youth (B4Y) initiative, which has earmarked $10 million for Web3-focused projects.

As per the announcement, the program will launch today (November 6) and will run until December 4, 2023, sponsoring BUIDL of Web3, India’s leading multi-chain summit.

It is worth noting that this summit is supported by Bitget, a collaboration between Lumos Labs and BuildlersTribe. The exchange noted that the summit will provide a platform for Indian startups to pitch their ideas to Bitget and prominent venture capitalists.

In addition, the exchange claims that its investment goal is to find and cultivate high-potential projects in the cryptocurrency field and provide them with financial support to promote new technology innovation. Therefore, Bitget announced that they will allocate $10 million in investment over the next 5 years under the Blockchain4Youth initiative.

Bitget CEO Gracy Chen praised India’s growing blockchain and cryptocurrency industry. Chen stressed that India has become a top investment destination in Asia thanks to its talent and entrepreneurial spirit.

The CEO of Bitget emphasized that the Bitget team looks forward to cultivating the next leaders in the cryptocurrency field through the Blockchain4Youth program.

It is worth mentioning that BUIDL for Web3 aims to attract thousands of developers and founders to demonstrate their resilience and creativity.

The month-long program will begin with the screening of more than 100 startups. Then, 10 people will be selected to promote their projects to well-known venture capitalists such as Bitget and Sequoia Capital, Lightspeed Ventures, and Draper Labs.

Notably, Bitget has created a dedicated portal to accept applications from interested startups.

General Bitcoin News.



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