Bitget Plans To Invest in Indian Blockchain Startups

Bitget, a well-known cryptocurrency derivative and copy trading platform, has announced its plans to invest significantly in blockchain startups based in India.

The exchange has revealed this development in a recent statement, stating that it is part of Bitget’s Blockchain4Youth (B4Y) initiative, which has allocated $10 million for projects focused on Web3.

According to the notification, the initiative will launch today, November 6, and continue until December 4, supporting BUIDL for Web3, India’s premier multi-chain summit. This summit, powered by Bitget, is a partnership between Lumos Labs and BuidlersTribe.

The exchange has highlighted that the summit will provide a platform for Indian startups to present their ideas to Bitget and leading venture capitalists.

Bitget has announced that it plans to invest $10 million over the next five years as part of the Blockchain4Youth project. The investment aims to seek out and nurture promising projects in the crypto industry and support them financially to encourage the development of new technologies.

Gracy Chen, the Managing Director at Bitget, has praised India’s growing blockchain and crypto sectors, highlighting the country as an attractive investment destination in Asia.

She emphasized the abundance of talent and entrepreneurial spirit in India. The Bitget team is excited to support the next wave of leaders in the crypto space through the Blockchain4Youth program.

BUIDL for Web3 is a program designed to attract thousands of developers and founders to showcase their resilience and creativity. The program lasts for a month and begins by shortlisting over 100 startups.

After that, ten startups will be selected to pitch their projects to Bitget and notable venture capitalists like Sequoia Capital, Lightspeed Ventures, and Draper Labs. It’s worth noting that Bitget has created a dedicated portal to accept applications from interested startups.