Tech Mahindra, Telangana govt launch blockchain accelerator programme

Information technology (IT) services firm Tech Mahindra has partnered with the government of Telangana to launch T- Block Accelerator, a programme for the Telangana blockchain district.

Launched in October 2019, the ‘blockchain district’ is Telangana’s ambitious project to make the state a hub for blockchain technology. The local government has even promised several goodies, including tax cuts and subsidies, to woo startups and technology companies to join its initiative.

T- Block Accelerator was launched at the Tech Mahindra Infocity Campus in Hyderabad. IBC Media, an innovation management company, is another partner in the programme.

Registrations for the accelerator programme begin February 3, 2020. Startups will undergo a one-week boot camp, followed by a four-week-long intensive training programme. 

Participating startups will receive mentorship and guidance from experts in the startup and blockchain space. The programme will include workshops, presentations, discussions and assignments designed to impart the practical knowledge required to build relevant blockchain products with real-world applications, the statement added.

“The state of Telangana is committed to its vision of positioning Hyderabad as one of the leading Blockchain cities of the world. 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,” said Jayesh Ranjan, principal secretary ITE&C Department, Government of Telangana.  

“We look forward to successfully running the T-Block Accelerator and building the public blockchain ecosystem in India,” Rajesh Dhuddu, global practice leader, Blockchain, Tech Mahindra, said.

Blockchain technology is estimated to generate $3.1 trillion in new business value worldwide by 2030, according to technology research firm Gartner. 

India is working on a legal and regulatory framework for the secto . The National Institute for Smart Government (NISG) recently sought stakeholder comments on the ‘National Strategy on Blockchain’.

Indian IT companies have launched several blockchain solutions in the past few months. IT giant Infosys, for example, rolled out blockchain-based applications for government services, insurance, and supply chain management domains

Last year in October, Pune-based Tech Mahindra partnered with Netherlands-based Quantoz, a blockchain-based solutions provider, to offer blockchain-as-a-service for secure digital payments.