Why is it important?

Big population, young demography and a large IT sector. Abundant scope to leverage socio-economic and environmental projects using Cardano.

What does success look like?

• Proposers from India in future Catalyst Funds.

• Real world projects with impact.

• Expansion of Cardano India community.

  Key Metrics to measure

• Number of local projects aiming for impact.

• dApps and projects implemented to completion.

• Qualitative improvement of sentiment for favorable legislation.

• Number of proposals that can improve awareness about Cardano or grow the Indian community.

  Challenge brief

Fund 8 is expected to set the ball moving for proposals from India and India focussed proposals. By the refine stage of Fund 7, the proposals in total have exceeded twice the allocated funds.

Emurgo recently conducted their first training for Haskell/Plutus in India. The first outgoing batch from that course can add firepower to the builder community in India. This challenge will provide sufficient funding space for those builders as well as those who are already actively working on Cardano from India.

A few more funding rounds would help to gather the necessary amount of momentum for the sustenance of the community growth.

Recent signals from the government have been considered positive toward blockchain based industry. In the annual budget for the year 2022, the government has announced a tax rate on profits for crypto investors. Before the budget, there has been lack of clarity due to rumors of a crypto ban. The government has called out that it is pro blockchain technology and the announcement of tax rate is considered tilting the scale towards regulations rather than bans. Generating awareness about Cardano for its technology merit is important in this backdrop.

Some suggestions for this challenge:

• Fund dApps and services based on Cardano built by Indian teams optionally in collaboration with external teams.

• Set up new Cardano community hubs or expand existing ones in India

• Create and promote content in local languages to attract different sections of the Indian society to Cardano.

• Build dApps with social / environmental impact.

• Initiatives that can improve goodwill among the general population as well as the government by demonstrating benefits of Cardano.

The IT sector in India is well developed and is the topmost off-shoring destination for IT companies across the world, employing close to 5 million professionals. In addition to driving the growth of the digital economy internally India offers cost-effectiveness to global companies. Mobilizing such a large population and workforce will benefit Cardano.