India-based IT service firm Tech Mahindra has launchedan inaugural accelerator program called T-Block Accelerator for TelanganaBlockchain District in partnership with the state government and IBC Media, aninnovation management firm.
According to the company, the initiative isfocused on startups that have a strong blockchain use case, boosting the growthof startups and contributing to overall industry growth.
With the help of this initiative, TechMahindra will enable the creation of an ecosystem which will empower startupsto resolve tough business difficulties for clients across diverse industryverticals. The government of Telangana will help in providing the requiredregulatory framework to enable and promote growth of blockchain.
Jayesh Ranjan, principal secretary, ITE&Cdepartment, Telangana, said: “This accelerator will be a torch-bearer tomultiple future blockchain accelerators in the country and we are excited topartner with Tech Mahindra to identify and promote innovative blockchain-basedsolutions to solve real-world problems.” Rajesh Dhuddu, global practice leaderfor blockchain at Tech Mahindra, added: “Our partnership with the stategovernment for the Telangana Blockchain District stems from our desire to builda world-class support infrastructure for blockchain startups and make Hyderabada destination of choice among several new-age entrepreneurs and blockchainevangelists.”
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.
