Bengaluru, January 26, 2024: CoinDCX, Solana Foundation, and Superteam jointly unveiled a ₹25 Crore grant program aimed at fostering the growth of Indian web3 developers. This initiative, announced on the 75th Republic Day, marks a significant step in empowering Indian blockchain developers and positioning India as a prominent global hub for Web3 innovation. Exclusively tailored for builders engaged in the Solana ecosystem, this two-year-long collaborative initiative seeks to accelerate the development of real-world use cases and mobile applications.
The grant program aligns with the Republic Day theme, "Viksit Bharat" (Developed India), chosen for 2024. The strategic decision underscores Solana Foundation and CoinDCX's commitment to tapping into India's burgeoning Web3 market, fostering entrepreneurship, and building world-class web3 products and apps.
Sumit Gupta, Co-Founder of CoinDCX, expressed enthusiasm about the collaboration, emphasizing its potential benefits for the Indian web3 industry. Gupta stated, "With India already contributing 11% of global web3 developers, I expect an encouraging ecosystem and government support to transform the country into a web3 powerhouse, adding a robust 1.1 trillion dollars to the economy."
Akshay BD, Advisor, Solana Foundation, emphasized the initiative's commitment to supporting Indian developers. "This initiative underscores our commitment to support Indian developers to build and ship global protocols from India. A tight integration between Solana’s ecosystem & CoinDCX’s products allows developers and companies to create delightful experiences for their customers while staying compliant with the existing regulations.”
The Solana Foundation grants are open to all enthusiasts interested in building in web3. The grant application process is open to 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 ₹25 Crore Grant Program aims to advance Blockchain Education and Hackathons. CoinDCX and Solana Foundation will support technical education for developers and engineers to accelerate the responsible adoption of public blockchains. CoinDCX Ventures will invest in the best teams emerging from these hackathons.
Sumit Gupta added, "CoinDCX, through its CoinDCX Ventures, will invest in exciting projects emerging from this initiative, solidifying its position as the Indian entry point/partner for the web3 ecosystem."
