IT Minister KT Rama Rao announced the inauguration of the T-Hub 2.0 which is set to take place on June 28. Also launching soon will be the new premises of T-works, which will be the largest prototyping facility in India.
The T-Hub 2.0 is being undertaken at a cost of about Rs 276 crore, Rama Rao announced on Monday at the launch of ‘An update to an India Economic Strategy to 2035: Navigating from Potential to Delivery’ hosted by the Australian Consulate-General in Chennai.
As the world’s largest startup incubator, the building will house more than 1,500 startups. In addition, space will be provided for ecosystem enablers such as venture capitalists. Since its inception, the Telangana Government-backed T-Hub has been able to significantly increase investments into over 1,120 startups and create over 2,500 jobs in Hyderabad.
In addition to the Government of Telangana, the T-Hub is a partnership between three Hyderabad academic institutions – the International Institute of Information Technology, the Indian School of Business, and the National Academy of Legal Studies and Research.
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Tech Hub offers start-up companies in the technology sector office and meeting space, as well as mentorship and investment connections.
Throughout Telangana, T-Hub and other enablers have built a robust innovation ecosystem that has brought the number of startups to over 4,200. A number of innovation programmes were developed and delivered by the company, and many connections were made with international startups.
In conjunction with T-Hub, 350 startups have been able to collaborate, raise money, and get acquired by large corporations as a result of the company’s corporate memberships and partnerships. Hyderabad has been trying to increase its share of investment raised by technology startups through T-Hub.
Also, Telangana is working to increase the number of startups at the early stage. In addition to new startups, there are also second startups (started by existing founders).
Hyderabad may have about 500 angel investors, while other parts of Telangana may have another 100. A 10-fold increase in this number is the goal of TS.
In addition to providing access to better technology, talent, mentors, customers, corporations, investors and government agencies, T-Hub also provides access to better technology, talent, investors, and customers. Additionally, T-Hub has launched Soonicorn (soon-to-be unicorns) Club, which is designed to recognize and support local ecosystem players who have the capacity to be unicorns.
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