Crypto Analyzer

Solana Foundation and CoinDCX Announce ₹25 Crore Grant Program for Indian Web3 Developers on the Occasion of the 75th Republic Day

The Solana Foundation and CoinDCX have jointly announced a ₹25 Crore grant program dedicated to Indian web3 developers in celebration of the 75th Republic Day. This program aims to stoke innovation among Indian developers, positioning India as a global Web3 innovation hub.

The grant program seeks to build web3 talent in India by tapping into the existing quality web3 talent pool and further building the capacity of web3 developers, fostering entrepreneurship, and job creation as the blockchain ecosystem expands. The two-year-long initiative, commencing on January 26, 2024, is exclusively designed for Indian builders engaged in the Solana ecosystem, aiming to accelerate the development of real-world use cases and mobile applications.

This initiative represents the first open-grant program at this scale in India, unlocking unprecedented opportunities for web3 developers. It is poised to advance the adoption of public blockchains in India, reinforcing the country’s status as a thriving global hub for Web3 innovation.

The grant program is set to be launched in alignment with the Republic Day theme, “Viksit Bharat” (Developed India), chosen for 2024. This strategic decision by the Solana Foundation and CoinDCX aims to tap into India’s growing Web3 market, entrepreneurship, and capability to build world-class web3 products and apps, further solidifying the country’s position as a global technology hub.

Sumit Gupta, Co-Founder of CoinDCX, expressed enthusiasm about the collaboration, highlighting its potential benefits for the Indian web3 industry. He emphasized the need to cultivate talent for sustained market share and leadership in blockchain software development, drawing parallels to the success of India’s IT/ITeS sector.

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 grant program will be utilized to advance blockchain education and hackathons, drive public blockchain adoption, and support real-world use cases of public blockchains, such as loyalty programs and tokenization of Real World Assets.

The Solana Foundation and CoinDCX’s collaboration aims to foster a robust web3 industry in India, leveraging the nation’s talent and potential to become a global powerhouse in blockchain technology. The initiative aligns with India’s vision of technological advancement and innovation, positioning the country at the forefront of Web3 development.

The grant program signifies an important step towards fostering a vibrant web3 ecosystem in India and propelling the nation towards a decentralized future of Web3.