t-hub

T-Hub, India's largest technology incubator, is almost completely booked, attracting over 130 startups from across the country.

The 70,000 square feet facility with seating capacity for 800 people can house 150 startups.

Located in Hyderabad’s IIIT campus area, T-Hub facility has tied-up with 20 venture capitalists and is also in talks with University of Texas, Houston, MIT Media Lab, Incubio of Spain, and laboratories and academic institutions in India and abroad for collaboration.

Telangana Information Technology Minister K. Tarakarama Rao told reporters on Monday that the state government will provide Rs.10 crores for the innovation fund to provide funding to the startups. The state government hopes that private players will contribute Rs. 90 crores for the innovation fund for T-Hub in public-private-partnership model.

"To begin with the innovation fund will be Rs.100 crore. We want to ramp it to $100 million or over Rs.600 crore," he said.

Rao has recently visited the US and claimed that venture capitalists in Silicon Valley including those who are connected to Hyderabad are showing interest in contributing to the innovation fund. Over 30 top technology companies have also indicated interest in T-Hub.

Tata Capital has also showed interest in participating in the fund.

Infosys co-founder N.R. Narayana Murthy will be mentor and one of the principal advisors of T-Hub facility which will provide infrastructure, support services and funds to startups in India.

Rao has also requested Microsoft CEO Satya Nadella, Adobe Systems CEO Shantanu Narayen, Biocon's chairman and managing director Kiran Mazumdar Shaw and other biggies to be mentors or address the young entrepreneurs when they visit Hyderabad.

In addition to the innovation fund, the startups will also have the opportunity to get funds from venture capitalists and angel investors.

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.