At the end of the three-month programme, each startup will receive US$50,000 in funding in return for 8 to 15 per cent equity from Satoshi Studios
Named after Satoshi Nakamoto, the mysterious creator of Bitcoin, the incubator will provide a three-month intensive programme for startups in the region.
The inaugural programme will commence in April 2017. Selected startups will work with other Blockchain enthusiasts from the region.
Founded in 2016 by founder of bitcoin startup GBMiners, Satoshi Studios provides a workspace and living space for the selected startups for three months in Delhi. At the end of the programme, each startup will receive US$50,000 in funding in return for 8 to 15 per cent equity.
The incubator is backed by some of the experts in the Bitcoin space, including Roger Ver (who has single-handedly funded the seed rounds for the entire first generation of Bitcoin businesses), Amit Bhardwaj (who is leading the march for Bitcoin adoption in India), and Michael Terpin (who co-founded BitAngels, the first angel network for investments in bitcoin/digital currency companies).
According to Founder Sahil Baghla: “We had been receiving a lot of interest from fellow entrepreneurs seeking feedback on their ideas using the Blockchain technology and some of the entrepreneurs we’ve met are building some really interesting applications, and we wanted to work with them and see if we could get an opportunity to know and work with more of these geniuses.”
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