India-based IT service firm Tech Mahindra has launched an inaugural accelerator program called T-Block Accelerator for Telangana Blockchain District in partnership with the state government and IBC Media, an innovation management firm.
According to the company, the initiative is focused on startups that have a strong blockchain use case, boosting the growth of startups and contributing to overall industry growth.
With the help of this initiative, Tech Mahindra will enable the creation of an ecosystem which will empower startups to resolve tough business difficulties for clients across diverse industry verticals. The government of Telangana will help in providing the required regulatory framework to enable and promote growth of blockchain.
Jayesh Ranjan, principal secretary, ITE&C department, Telangana, said: “This accelerator will be a torch-bearer to multiple future blockchain accelerators in the country and we are excited to partner with Tech Mahindra to identify and promote innovative blockchain-based solutions to solve real-world problems.” Rajesh Dhuddu, global practice leader for blockchain at Tech Mahindra, added: “Our partnership with the state government for the Telangana Blockchain District stems from our desire to build a world-class support infrastructure for blockchain startups and make Hyderabad a destination of choice among several new-age entrepreneurs and blockchain evangelists.”
In April, the Indian Commerce Ministry had announced the launch of a blockchain based coffee e-marketplace. The reason why government brought in a blockchain-based market place app to conduct trading of Indian coffee was to bring transparency. The move focusses on bringing a positive impact on consumers looking for real Indian coffee, as well as the grower who will be fairly paid for the coffee produced.
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