India’s biggest incubation hub for startups and entrepreneurs will be launched in Hyderabad of new Telangana state and is expected to get completed by year-end or early next year. The announcement was made by state’s IT minister K.Tarakarama Rao yesterday.
T-Hub will be the name of this new upcoming incubation centre to be developed in collaboration with International Institute of Information Technology (IIIT) Hyderabad, Indian School of Business (ISB) and NALSAR University of Law.
The incubation center will developed in geographical location of Hyderabad’s IIIT campus area. The facility will be spread over 80,000 square feet and can accommodate 400 start-ups. The first phase will be ready by year-end or January-February next year and he claimed that this itself will be India’s biggest incubation hub.
The upcoming incubation hub will provide infrastructure, support services and funds to startups in India. ISB would provide business mentoring, IIIT technology mentoring while NALSAR would help in intellectual property and related areas.
“Through the incubation centre, we want to give a platform to the youth who have innovative ideas. We don’t want aspiring and budding entrepreneurs to be bogged down with the legal, accounting, office space management, mentoring support and funding,” said Rao, Hyderabad’s IT minister .
With the vision to make Hyderabad start-ups capital, the government plans to attract angel investors and venture capitalists to Hyderabad through investment meets.
As a precursor to the T-Hub, the city will host ‘The August Fest‘, a seed fund event which will be held at the Indian School of Business (ISB) on August 30 and 31.
Billed as the biggest ever start-up festival around creativity and entrepreneurship, the second edition is expected to attract 1,500 start-ups and more than 100 investors, VCs and others from across India.
As of now India do have some of the biggest startups incubation centers such as Startup Village in Kochi, Microsoft Accelerator in Bangalore and Centre for Innovation Incubation and Entrepreneurship in Ahmedabad. Adding to the list the new proposed incubation hub in Hyderabad will provide boost to future of early-age startups in India.