NEAR, an open-source platform aimed at speeding up the production of decentralised applications, has announced the launch of their first India-focused accelerator programme, the NEAR India Accelerator.

Woodstock Fund, a DLT-oriented multi-asset investment fund, and Fracton Ventures, a popular Web3.0 focused Japanese investment and growth platform, have both entered the accelerator as Investment partners and Go-to-Market access Partners.

The NEAR India Accelerator aims to cultivate and recognise upcoming Indian startups that want to innovate in the blockchain sector, create impactful products that solve real-world problems, and boost India's blockchain prowess in the global ecosystem.

NEAR Foundation and Woodstock ovalenthq.comFund will provide up to $200k in funding, mentorship from global leaders in the blockchain and startup space, go-to-market access to the NEAR and Woodstock Fund's vast ecosystem, and marketing support to creative startups with impactful solutions based on the NEAR protocol for real-world problems through the accelerator. Fracton Ventures will provide Go-to-Market support in Japan, as well as opportunities in the Japanese blockchain and investment ecosystem for the participating startups.

NEAR is a decentralised development platform based on the NEAR Protocol, a proof-of-stake blockchain that is public, sharded, and developer-friendly. Developers may use it to create decentralised applications because it is highly scalable and cost-effective. This platform was created with the aim of providing a decentralised, ubiquitous foundation for other developers to build on.

This platform was created with the aim of providing a decentralised, ubiquitous foundation for other developers to build on. NEAR has agreed to open up its expertise and provide funding to the innovative minds in the Indian Tech startup ecosystem through its India accelerator.

Before the registration deadline, the NEAR India Accelerator will host meetups, which will be followed by a two-week bootcamp for selected registrants. Startups that make it through the bootcamp will be invited to pitch for up to $100,000 in funding at the demo day.

“I have no doubt that some of the leading ideas and transformations across industries will emerge from India in the years to come, so launching the NEAR India Accelerator program was the obvious choice for our community. India’s startup ecosystem is already solving some of the most critical issues facing the country today, and with this accelerator program, we aim to highlight these efforts and empower up-and-coming entrepreneurs to bring new ideas to life and to propel India forward as a powerhouse in global blockchain-led innovation,” says, Eril Trautman, CEO of NEAR Foundation.

The accelerator program is launched in partnership with Lumos Labs, an innovation management firm specializing in running technology open innovation programs in India.