The Algorand Foundation, a layer-1 blockchain, has announced the launch of AlgoBharat in India. The dedicated team is focused on real world utility for blockchain in India that will be relevant to the rest of the world.

AlgoBharat’s mission in India will focus on three key pillars of activity. The first is broadening the Web3 developer base, which is critical to support the rapidly growing needs of blockchain-based companies globally. The second is directly supporting and investing in the Web3 start-up ecosystem. By providing mentorship along with access to capital and developer support, AlgoBharat aims to help these startups grow. 

The third pillar is strategic partnerships with more established organisations. AlgoBharat recognises that significant opportunity resides in partnerships with established companies, non-profit organisations, government and academic institutions that can utilise and promote blockchain to accelerate achievement of their business and policy objectives. 

Anil Kakani, said, “Our motto is ‘In Bharat for Bharat.’  AlgoBharat is committed to supporting the creation of employment opportunities and solutions. I am confident blockchain technology will help drive India’s graduation from its position as a service provider to the world’s leading companies, to its role as an innovation leader in developing solutions to create a more inclusive economy.”

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Algorand’s India wing will work to forge partnerships to accelerate innovation and adoption of blockchain technology in India. Led by Anil Kakani, VP and India Country Head at Algorand Foundation, and Nikhil Varma, the Tech Lead for AlgoBharat, the India team has seen traction in its mission to create a more inclusive economy through the use of blockchain technology to democratise access to markets and capital.