IoTeX, a leading decentralized, scalable, and EVM-compatible blockchain network for real world dApps and digital assets, today announced the launch of their first India focussed hackathon, the IoTeX Hackathon India 2021. Launched in partnership with Lumos Labs, an innovation management firm, the virtual hackathon spanning over two months aims to mobilise the strong developer pool in India to build the next generation dapps that will revolutionize and explore the trillion-dollar opportunity in smart devices and real world data. The winning projects will win prize money up to $16, 000 along with seed funding opportunities through its investor network and industry mentorship as well as go-to-market access to build a strong foundation for capital-efficient growth on a case-by-case basis depending on viability.
The 2 month long hackathon will focus on strengthening the developer ecosystem of India and helping them create next-generation dApps that can revolutionize blockchain and IoT technologies and aid decentralize data through IoT. Through this hackathon, young and talented blockchain developers will get a chance to join the thriving IoTeX ecosystem while exploring different sectors such as supply chain, data, and connected devices.
The hackathon will aim to identify interesting solutions across 3 tracks – data as a trigger: If-This-Then-That (IFTTT), Data-as-a-Service, and Pooled data from multiple Pebble Trackers with prize money for top 3 projects in each track. Incentives include USD 100 per team for the Top 10 voted projects along with a “Halo” Grant to continue their work for selected projects by IoTeX Foundation. The Hackathon will be interspersed by multiple meetups and tech talks along with strong mentorship and training support from the IoTeX team throughout the hackathon. The ongoing support ranges from access to tech guidance on projects, networking opportunities, PR support and more. Beyond monetary incentives, participants will gain unique networking opportunities that will open various opportunities for them to become a part of the future of the blockchain-powered IoT ecosystem.
The hackathon is open to beginner blockchain developers beginning to explore dApps as well as experienced talent looking to enhance their existing dApp understanding. Through the IoTeX Hackathon India 2021, these developers will get the opportunity to build on the world’s most technologically advanced blockchain platform IoTex, which was architected by award-winning cryptographers and research scientists, that currently leads premier industry consortiums and standardization bodies. They would not only get to create dApps on the IoTeX platform, but would also learn to tokenize real-world objects, facts, and events and push trusted IoT data to smart contracts.
“We at IoTeX have a vision of transforming the world by integrating two emerging technologies, blockchain and Internet of Things by way of revolutionary dApps made by young developers. Through IoTeX Hackathon India 2021, we are hoping to broaden our developer base to India and help them build their ideas into thriving business solutions that change the way we see these two technologies today. IoTeX stands at the intersection of blockchain and IoT, both having the potential to grow bigger and better, and has managed to integrate these into various reliable products that are used by some of the world’s largest institutions. With this initiative, we are hoping to increase our ecosystem and get fresh perspectives into the way we can enable further significant development that will change the world” commented Larry Pang, Head of Business Development, IoTeX.
“Lumos Labs has always been passionate about emerging cutting-edge technologies that have the potential to change the way the world works. With IoTeX Hackathon India 2021 we broaden our horizons with the intersection of IoT and Blockchain. The way the IoTeX ecosystem enables the integration of two highly sophisticated technologies has been revolutionary and we hope to see more such ideas during this hackathon. Blockchain and IoT have been instrumental in the efforts towards making the world an efficient place in their own way but through IoTeX, we get to witness how they can optimize the world even more together. Through the course of this hackathon, Lumos Labs and IoTex hope to see young minds learning and navigating this efficient space and building solutions that reinvent how the dApps, IoT, and data sectors operate.” Raghu Mohan, Co-Founder, Lumos Labs added.