Eligibility Criteria
If you meet the following requirements, Algorand Startup Lab is an ideal fit for you:
Startup Location
India
Startup Attributes
Web 3 / Product stage / MVP ready
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About the Algorand Startup Lab
A year long program that supports and nurtures Web 3.0 startups, harnessing the strengths of both T-Hub and the Algorand blockchain protocol. The Startup Lab program is tailor-made for prototype-ready startups in India.
This first-of-its-kind collaboration between South Asia’s leading innovation ecosystem and the best-in-class blockchain protocol will provide customized technical and business support to teams building innovative Web3 solutions, while also delivering opportunities to test their solutions with customers and engage with seasoned investors.
Why Algorand ?
Algorand is a layer one public blockchain protocol with several differentiating features:
Scalability: Can execute up to 10,000 transactions per second
Speed: Blocks finalized in < 3 seconds and transactions are instantly final
Reliability: Zero downtime since launch in 2019
Security: Inherent protection against protocol and network attacks
Affordability: Transaction costs at a fraction of a cent
Sustainability: Energy efficient and carbon neutral
Smarter Programmability: Atomic transfers, Algorand Standard Assets, Rekeying, and other primitives reduce the attack surface of smart contracts
Cryptographic Innovation: Fast Byzantine Agreement, Verifiable Random Functions, Post-Quantum Security
Key Takeaway
By the end of the program, startups will have significantly advanced toward product readiness, market readiness and funding readiness.
The Startup Lab Program at a Glance
Program Offerings
Dedicated support for startups that includes product refinement to ensure market fit,
and technical, business and funding support as required to navigate the startup journey.
Workshops & Trainings
Providing startups with knowledge and skills across technical and business functions to build robust blockchain-enabled solutions. Enhancing ability to communicate solutions effectively during the Demo Day .
Technical Web3 Support
Personalised assistance for startups to incorporate Algorand's blockchain functionalities into their (MVPs), enhancing the technological sophistication of their solutions and expediting the process of prototyping and testing.
Mentorship Sessions
Well timed mentorship sessions with industry veterans and confidential feedback to help startups course-correct or validate assumptions to achieve product-market fit.
Expert Interventions
On-call expert sessions to help resolve specific technical, legal, financial or business challenges. Invaluable resources to help startups progress unhindered toward critical milestones.
Investor Engagement
Exposure to scout funds and individual investors to boost fundraising opportunities for the most promising startups.
Peer to Peer Engagement
Co-working and networking opportunities facilitate peer learning and collaboration. Synergies sometimes emerge for partnerships or talent hiring.
Business Model Evaluation
Expert evaluation and feedback on business models to help refine value proposition, pricing, distribution strategies and scale more effectively.
Infrastructure Support
Startups are provided infrastructure resources such as identity management, on ramp and off ramp payment solutions, credits for mainnet launches on Algorand's blockchain infrastructure. This will reduce time and costs for product development and testing cycles, allowing startups to validate assumptions faster.
Corporate/Customer Engagement
Introductions to potential corporate partners/customers for pilot deployments or trials to help validate and improve offerings based on early user feedback.
Pitch Clinic
Mock Q&A sessions and feedback from investors to aid preparation for actual pitches. This practice helps groom startups to communicate their solution confidently and secure funding.
Focus Areas
Healthcare
Blockchain's inherent security, transparency and ability to empower data sharing can help address key challenges to health care access and delivery. Startups can build solutions to improve electronic health records management, enable secure and convenient data sharing between providers, payers and patients, automate insurance claim processing, fight counterfeit drugs and streamline clinical trials.
Tracking and Traceability / Supply Chain Management
Blockchain powered tracking solutions can deliver transparency across complex global supply chains, right from the origin to the end consumer. With smart contracts, all parties from manufacturers to retailers can efficiently and effectively track the asset at each handoff, helping meet compliance standards, authenticate products, detect failures and ensure visibility.
AgriTech
Blockchain can be used to create digital identities for farms and enable traceability from farm to fork. With IoT sensors, environmental conditions can be captured on-chain, helping improve sustainability, yield and supply chain efficiency in the agricultural sector. Quality certifications, credit assessments and payments can also be streamlined.
Sustainability
Blockchain solutions allow issuance, trading and retirement of carbon credits in an open and transparent manner. Smart contracts can automate crediting and payments based on pre-defined emission reduction criteria verified through oracles. Startups can help incentivize sustainable actions through carbon token economies and enable organizations to offset emissions more efficiently.
Financial Inclusion
Leveraging the decentralized nature of blockchain, open source digital identity systems, peer-to-peer lending/insurance platforms and new governance models can help overcome the historic trust and documentation hurdles in order to deliver basic financial services to historically unbanked and underserved communities.
Web3 Infrastructure
Foundational layer technologies that enable the decentralized web are key for widespread blockchain adoption. Startups may build platforms and services around data storage, communication protocols, naming services, developer tooling etc. to help other applications easily integrate on-chain capabilities without worrying about underlying plumbing.
Program Schedule
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FAQs
The Startup Lab program brings together the very best in business and industry mentorship with world class Web3 developer support for startups building blockchain solutions for real world impact. Each of the twenty selected teams will be assigned a dedicated business mentor and Web3 technical mentor to work with over the course of the year, and the program will include a mix of virtual and live sessions that are specifically focused on helping each team build and fine-tune their product based on market feedback, prepare to take their product to market, and emerge ready to raise their first (or next) round of capital.
In order to be eligible for the Algorand Startup Lab, a startup must be (1) based in India and (2) building a Web3 solution. Applicants should have a minimum viable product (MVP) or working prototype, and at least one dedicated founding member on the team. Teams must be willing and able to participate fully in the program remotely and in-person at T-Hub. The startup team should also be willing to natively build their application on the Algorand blockchain if their product is currently on another chain.
- Experienced mentors to help fine tune products, strategies and pitches
- Hands-on technical expertise to build on Algorand
- Access to customers and markets for live testing and feedback
- Potential pre-seed funding and investment introductions
- Workshops on relevant skills like solution design, marketing & fundraising
- Networking forums to explore partnerships
While diversity of skills on a team is preferred, exceptional individuals with proven ability to execute may also apply. Priority will be given to those who have demonstrated progress through development work or relevant partnerships.
We aim to support any innovative, scalable Web3 solution. Suggested focus areas include health care, supply chain, sustainability, agritech, and fintech, but solutions for other verticals where real-world problems are being addressed are also welcome.
While registration in India is not required, physical presence during the program is expected. Preference will be given to Indian-based startups to maximize in-person engagement and collaboration.
Having an MVP or prototype developed is highly preferred; however, exceptional ideas and teams will be considered on a case-by-case basis based on progress and commitment demonstrated.
The focus of the Startup Lab is to support early-stage startups building innovative, scalable solutions using Web3 technologies. This includes both companies exploring a transition from Web2 to Web3, as well as those building their first offerings natively in the Web3 space. While applications built on Algorand’s features are preferred, consideration will also be given to multi-chain startups. The main criterion is the innovative potential of the solution and how it leverages core capabilities of Web3 technologies.
While experience with Algorand is valued, it is not required. The program aims to onboard startups onto Algorand and help them leverage its features. Multi-chain experience may also be considered.
No, multiple applications by the same team/individual will not be considered. If your startup has multiple focus areas, please mention all of them in a single application form.
The program is fully funded by Algorand Foundation and T-Hub. Startups do not pay any registration or participation fees.
While travel expenses are typically the responsibility of each startup, a limited amount of travel support may be considered based on need and availability of funds for this purpose.
Startups will receive 1:1 custom reviews to refine their solutions. Feedback along with potential for pilot deployments, funding, and other support will be discussed to help startups progress towards commercialization and scaling their solution.
Ideally a startup should have an MVP and a targeted user base. Commitment to ongoing development is key. If you are unsure, please reach out to the organizers to discuss your specific stage and fit for the program.
Based on startup progress and investment-readiness, Algo Ventures will evaluate startups that seek follow-on funding for potential investment. Follow-on funding is not guaranteed by participation in the Startup Lab program.
Selection will be based on factors like innovation level, problem-market fit, solution design, technical feasibility and roadmap. Shortlisted startups might undergo interviews before final selection into the program.
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