Indian State Plans to Support Blockchain Startups

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The India state of Andhra Pradesh wants to build a community of blockchain startups.

The Andhra Pradesh Innovation Society (APIS) declared on Wednesday that was collaborating with the Eleven01 Foundation to building a blockchain talent pool and assist startups building with the nascent technology.

Eleven01 is a local provider of blockchain protocols.

As per a press release APIS is tasked with creating ‘an exceptional technology startup ecosystem.’ As such, the collaboration is aimed at using events, activities and mentorship programs to “nourish talent and build a community” of startups within the state.

Mr. Ramchandran Iyer, president & chief product officer of Eleven01 Foundation, echoed Chowdary’s stating:

“We imagine India to be a blockchain-hub and the support from the state here brings us a step closer to achieving that. Collectively, we will contribute towards the development of the best blockchain-ready talent pool and innovations in the state.”

Eleven01’s blockchain protocol was developed in association with Indian IT services giant Tech Mahindra. The platform was announced in August and intended at strengthening the blockchain ecosystem in the nation.

The recent move is just the latest blockchain-focused effort by the government of Andhra Pradesh. Prior this year, the state signed a MoU with Covalent Fund to initiate a blockchain ecosystem, and start a blockchain university with a $10 million initial investment.

Last year in October, the state was working on startup ChromaWay on a land registry pilot that uses blockchain to track the ownership of property.

Nishanth Shetty

Nishanth Shetty is a technical writer, author and a crypto-advisor working at Cryptofame. Based in the city of dreams, Mumbai, on the west coast of India. He holds a bachelors degrees from Mangalore University. Nishanth has a myriad experience of technical writings for tech brands. His interests include technology, travel, and food.