- Bitget plans to invest in Indian blockchain startups under the $10M BlockchainForYouth Fund.
- Bitget is sponsoring India’s BUIDL for Web3 summit under the B4Y initiative.
- The $10 million investment aims to nurture high-potential crypto projects for innovation in new technologies.
Bitget, the well-known crypto derivatives and copy trading platform, has announced its intention to invest heavily in Indian blockchain firms. In a recent statement, the exchange announced this development, stating that it is part of Bitget’s Blockchain4Youth (B4Y) initiative, which has set aside $10 million for Web3-focused businesses.
According to the announcement, the project, which will fund BUIDL for Web3, India’s biggest multi-chain convention, will begin today, November 6, and will run until December 4, 2023. Notably, this summit is a cooperation between Lumos Labs and BuidlersTribe, and is powered by Bitget. According to the exchange, the summit will provide an opportunity for Indian businesses to propose their ideas to Bitget and notable venture capitalists.
Furthermore, Bitget noted that the goal of its investment is to find and develop high-potential projects in the crypto field, as well as to financially support them in order to promote innovation in new technologies. As a result, Bitget has announced that it will invest $10 million in the Blockchain4Youth project over the next five years.
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Gracy Chen, managing director of Bitget, lauded India’s burgeoning blockchain and cryptocurrency businesses. Given India’s skill and entrepreneurial spirit, Chen emphasized the country as a top investment destination in Asia. The Bitget managing director stressed that the Bitget team is excited to propel the next generation of crypto leaders through the Blockchain4Youth program.
It is worth noting that BUIDL for Web3 is intended to attract thousands of engineers and startups who want to demonstrate their tenacity and inventiveness. The month-long program will begin with the selection of over 100 businesses. Following that, five projects will be chosen to pitch to Bitget and famous venture investors such as Sequoia Capital, Lightspeed Ventures, and Draper Labs. Notably, Bitget has created a separate platform for interested entrepreneurs to apply.
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