Lumos Labs, an innovation management firm in India, today announced the launch of The Hatch Web3 Accelerator for Hedera, inviting Indian Web 3 startups to grow at scale with Hedera’s distributed ledger services.
Launched in partnership with The HBAR Foundation, which supports the creation of Web3 communities built on the Hedera network, the accelerator program will comprise of two cohorts of five months each and aim to encourage and empower innovators in the Web 3.0 space to scale their blockchain and distributed ledger solutions, and to augment awareness and adoption of Hedera technology within the Indian developer community. Finalists from each cohort will be eligible to receive grants from a pool of US $150,000 each from the HBAR Foundation, along with mentorship and go-to-market guidance.
Shortlisted solutions will enter a bootcamp phase during the program. The winners will receive mentorship from the industry leaders along with integration and technology support. By participating in the Accelerator, developers and founders can build and scale applications that leverage Hedera's speed, security, scalability, and finality, while establishing connections with like-minded people and leading IT experts.
The Accelerator participants will also receive expertise and web development support from Amazon Web Services (AWS) and expertise in legal aspects of starting up as a Web3 company, understanding the nuances in taxation and auditing for Web3 startups from PwC. The startups will also receive network access and potential funding grants from VC partners We Founder Circle, Woodstock Fund, Fracton Ventures, Mapleblock and CoinDCXcontingent on their due diligence process and investment thesis fit.
“India has become the third-largest startup ecosystem in the world after the US and China. With over 80 startup unicorns in India, most in the tech services sector, the potential of the Indian market is massive. With this accelerator program, alongside partners like AWS and PwC, the HBAR Foundation aims to strongly support the Hedera ecosystem and adoption in India, where organizations and developers have shown a great deal of interest.”
The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation’s six funds - focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders - each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem. The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to create their own economies in which they control their own assets and identities, all built on the world’s most-used, sustainable, enterprise-grade public ledger for the decentralized economy.
“We are delighted to work with HBAR Foundation on this Accelerator program, to continue to strengthen the startup ecosystem building on Hedera, an initiative that is at the core of our brand's vision. India has been a global blockchain startup hub in recent years and has been positive about the potential of this technology. This initiative is focussed on overcoming the barrier that startups come across in their journey and we are excited to be a part of this.”
Registration is open for developers and enthusiasts across India. For more details on the Hatch Web3 Accelerator for Hedera and its registration process, visit our website.
To Register, Apply here
ABOUT THE HBAR FOUNDATION Founded in 2021, the HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, ESG, gaming and other sectors. In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development and other operational functions that are required to scale. For more information, visit https://www.hbarfoundation.org/about
ABOUT HEDERA: The Hedera network is the most used, sustainable, enterprise-grade public ledger for the decentralized economy. The platform is governed by a council of the world’s leading organizations, including Avery Dennison, Boeing, Chainlink Labs, DBS Bank, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.
For more information, visit - www.hedera.com, or follow us on Twitter at @hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.
ABOUT LUMOS LABS: Lumos Labs is a Singapore based innovation management firm that specializes in running technology open innovation programs. Founded in 2018, the company has run several accelerators and open innovation programs for multiple Indian and international technology firms, corporates, governments and investment firms. Their services include Growth Services, Open Innovation, Start-up Enablement, and organizing large scale developer & technology conferences & hackathons. Their clients include Aeternity Starfleet Blockchain startup accelerator, T-block blockchain startup accelerator, Genesis hack - A Blockchain Hackathon, Binance Build for Bharat Accelerator For more details, visit - https://www.lumoslabs.co/
Media Contact:
Susan Joseph
Head of PR, Lumos Labs
susan@lumoslabs.co | 9900029191
Alina Ahmed
PR Associate, Lumos Labs
alina@lumoslabs.co | 8826380775
Sanyam Joshi PR Associate, Lumos Labs sanyam@lumoslabs.co | 8447092944
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