In line with its vision to be a leader in emerging technologies, the government of Telangana has taken up several initiatives to develop a conducive ecosystem for the industry in the State. Realizing the potential of Blockchain technology, the government in consultation with the industry is working towards making Hyderabad an active hub in this technology and the State envisions to make Hyderabad as one of the top 10 Blockchain Cities of the world.
The Blockchain District will house all major blockchain technology companies, will have a huge incubator and a world-class facility for promoting research, innovation and industry collaboration. This one of its kind initiatives will aim to put all blockchain companies based out of Hyderabad at a strategically advantageous position globally.
Key Pillars of the Policy
- Developing Talent Pool
- Designing blockchain courses for students, and providing elite certifications
- Upskilling/re-skilling of current employees to adapt them for blockchain
- Providing internships for students
- Holding workshops and conferences
- Supporting Infrastructure
- Providing office, co-working and incubating spaces for startups and corporations
- Creating sandboxes
- Collaborating with international players to bring investments and knowledge
- Providing an IT infrastructure to support the blockchain technology
- Promoting research and innovation
- Encouraging startups that are into innovating
- Bringing training institutions, startups and research centers onto a common platform
- Providing fundings for research
- Enabling Collaboration and Building Community
- Provide Blockchain communities fundings necessary for meetups/conferences
- Launching a virtual community for all the relevant stakeholders
- Conducting seminars, lectures by the industry experts and taking their help to develop communities as a whole
Incentives will be given to enterprises and startups to ensure that they are comfortable to establish themselves in Hyderabad and collaborate with the government and the district in developing and adopting to the blockchain. Incentives include first level fundings, certain tax exemptions, infrastructure provisions, R&D grants an exemption from certain inspections.