The team behind India’s biggest bitcoin mining pool GBMiners.com, has established South East Asia’s first blockchain incubator.

Called Satoshi Studios, the incubator is backed by Amit Bharadwaj, the founder of Amaze Mining & Blockchain Research Ltd, which owns over 100 Petahash of Bitcoin mining power.

"Our vision is to build New Delhi (India) as the Blockchain Knowledge Hub of Southeast Asia," Bhardwaj said. "South East Asia and bitcoin adoption will be a very symbiotic relationship. The region is the world's largest inward remittance market and also has the world's largest unbanked population. There is so much potential in bitcoin's adoption in the region, and the times could not be better for bitcoin adoption especially with the region's largest economy's biggest currency notes being demonetized recently."

Bharadwaj believes that the Southeast Asian economies have shared areas of impact from the blockchain technology, and that applications needed to solve their problems will be more or less similar. 

According to the official release, the incubator is inviting applications from entrepreneurs working in the South East Asia region. It has a 3-month intensive residence program in New Delhi, India, where the founders will spend time with the GBMiners team and other blockchain startups and receive 50K USD in funding for 8%-15% equity in the company.

"We had been receiving a lot of interest from fellow entrepreneurs seeking feedback on their idea on the blockchain and some of the entrepreneurs we've met are building some really interesting applications on blockchain, and we wanted to work with them and see if we could get an opportunity to know and work with more of these geniuses”, incubator's co-founder Sahil Baghla said.

Baghla further said that the startups will get an “awesome” workspace, along with living space for three months in New Delhi. In addition, they will get an opportunity to attend intensive mentorship sessions by blockchain experts, helping them to reach the product market fit quickly. Interested entrepreneurs can apply for the first batch at: http://satoshistudios.io/

"GBMiners's access to blockchain-friendly investors will provide the necessary connections for the entrepreneurs to be able to raise capital from the right people in the region and also save them from reinventing the wheel”, Bharadwaj added.

Darwin Labs is building an ecosystem of products in bitcoin, blockchain and crypto currencies. Its recently launched pool grew to become the 2nd largest pool outside China, and gather a pool of 65 Petahashes, in a span of less than 3 months of launch. Besides GBMiners, it has launched bitcoin wallet CoinBank and is also working on a decentralized fund.