io.net launches AI grant programme to boost affordable compute in India

io.net is expanding its operations in India, outlining a strategy focused on improving access to affordable computing power for artificial intelligence (AI) developers and organisations in the country.

Grant programme

The company has introduced a grant initiative intended to address the shortage of affordable compute resources faced by Indian startups, researchers, and open source contributors. As part of this programme, io.net will allocate 20 million $IO tokens and provide free compute credits and funding to support the development of AI tools, models, infrastructure, and sector-specific applications in India.

Grant recipients will be able to use io.net's distributed GPU clusters, which aim to reduce the reliance on costly enterprise hardware. This support is expected to help companies and individuals train and deploy AI models without the significant financial barriers typically associated with high-performance computing infrastructure.

Sector priorities

The programme encourages Indian companies, particularly those building solutions for local languages, healthcare, agriculture, and financial inclusion, to participate. The demand for tailored AI models in sectors such as healthcare and public services is highlighted as an area of particular importance, where rapid development and deployment of new tools can deliver tangible benefits.

Indian startups frequently cite high infrastructure costs as an obstacle to innovation, with a large share of budgets directed toward computing expenses. By offering access to a global pool of idle or underused hardware, io.net's decentralised approach seeks to turn this shared infrastructure into a resource for AI builders across India.

Decentralised model

io.net's model is designed to provide an open marketplace for GPU and compute resources, reducing dependency on international cloud providers and circumventing the capital-intensive process of acquiring enterprise-grade hardware. Cost efficiency and censorship resistance are positioned as key features of this decentralised network.

The network, operational since June 2024, claims access to tens of thousands of GPUs and a customer base including global AI firms and academic institutions. Notable users of io.net's platform include Leonardo AI, Gaia, Solana, UC Berkeley, Filecoin, Everlyn AI, Flock.io, Netmind.AI, ChainGPT, KREA AI, and Chainbase.

Market context

India's significance as a hub for AI is underscored by its large pool of technology talent and the rapid adoption of digital solutions across industries. However, the lack of affordable compute remains a prominent constraint for the country's AI ecosystem.

"India has the talent, the ambition and the urgency to shape the next era of AI. What it lacks is an affordable, scalable compute. Our expansion bridges that gap, giving every Indian builder the freedom to train and deploy models at world-leading scale. Sectors such as healthcare, which rely on rapid model development for diagnostics and public health tools, stand to benefit immediately. Decentralised compute is the great equaliser - it levels the field for startups and ensures India can compete on its own terms," said Gaurav Sharma, CEO, io.net.