GBMiners Launches Blockchain Incubator in India

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Indian English-language newspaper The Hindu recently reported that Bitcoin firm GBMiners has announced the launch of Satoshi Studios – the first blockchain incubator for the Southeast Asian region. The incubator, named for Bitcoin’s mysterious creator, is being supported by Amaze Mining & Blockchain Research Ltd and GBMiners co-founder Amit Bharadwaj, who said, "Our vision is to build New Delhi as the blockchain knowledge hub of Southeast Asia.”

The incubator is currently accepting applications from innovators in the region. The program will involve a residency in New Delhi, India, that will last for three months. Selected participants will work closely with the team from GBMiners, as well as representatives from other blockchain firms. They will also receive $50,000 USD in investment funding in exchange for 8%-15% equity in their companies. According to incubator co-founder Sahil Baghla, the participating entrepreneurs will be provided with an interactive workspace and living accommodations in New Delhi, while they work with blockchain mentors who are committed to helping them bring their ideas to market.

As Bharadwaj notes, "GBMiners' access to blockchain-friendly investors will provide the necessary connections for the entrepreneurs to be able to raise capital from the right people in the region and also save them from reinventing the wheel.” He has also stressed that his nation’s recent move toward increased demonetization makes this an ideal time to push greater Bitcoin adoption inside India and throughout Southeast Asia.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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