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Binance announces DeFi-focused hackathon in India

By:
on Aug 24, 2020
Updated: Feb 15, 2024
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  • Binance Chain has launched a three-month two-fold program d믭 ‘ Build for Bharat’.
  • The program will be rolled out in three cohorts where over 30M INR is up for grabs by shortlisted startups.
  • Some of the sponsors of the program include Blockchain for India Fund, Google Cloud, and Matic Network.

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Binance Chain, the developer-focused branch of Binance exchange, has launched a hackathon and accelerator program in India. The announcement made through a blog post on August 23 revealed that the program is designed to help improve the mass adoption of blockchain in India.

In the announcement, Binance Chain stated that the hackathon and accelerator program was in line with the platform’s vision of ensuring financial sovereignty. When commenting about the program, Binance CEO, Changpeng Zhao, stated,

“India has been one of the most interesting countries Binance has tapped into! We’ve seen entrepreneurs create robust blockchain-based solutions from scratch and scale it. With the second largest blockchain developer base in the world – India has already kickstarted the revolution of decentralization and we’re here to fuel it!”

Details of Build for Bharat

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The Build for Bharat hackathon and accelerator program will be rolled out in three cohorts. The first stage, from August 24 to September 11, will involve receiving applications from those in the blockchain space where 100 teams will be shortlisted. Genesis Cohort will be followed by the trial cohort that will be selected from September 12 to September 30, where 20 finalists will be chosen. The final group will be mentored and evaluated from 1st to 31st October.

There’s a pool of 30,000,000+ INR in rewards for the winning startups in the hackathon. The winning teams will also receive acceleration through Polaris and have access to the Binance ecosystem.

Call for applications

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Binance Chain has asked cryptopreneurs and those interested in blockchain to send their applications on the event registration website. The scope of those who can apply is comprehensive and includes startups who deal with mini-tokens, blockchain data sets, and blockchain AI solutions, among other crypto-related products. Creators and innovators in the blockchain space are encouraged to apply.

Strategic partners

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Binance has been getting into strategic partnerships with companies such as Wazirx to boost and strengthen the blockchain ecosystem in India. Binance and Wazirx came together to create Polaris, which is an initiative of the Blockchain for India Fund that will sponsor the Build for Bharat accelerator program. The hackathon is being sponsored by Google Cloud, Matic Network, Marlin Protocol, Band Protocol, and Ankr Cloud.

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