The newly formed 29th state of India, Telengana seems to be showing the rest of the country the right path when it comes to encouraging young talent in the state.
According to IT Secretary Jayesh Ranjan, seeing the humongous talent being displayed by the youth of the state, the state government is seriously contemplating scaling up the state’s T-Hub facility by up to five times.
The Telengana government has already finalised 10 acres of land at Raidurg in financial district, near the present T-Hub facility, where another huge facility will be built in the period of next two years.
The new building will apparently be five times more in size to the existing facility, which translates to – about 4,000-seater facility and 3.5 lakh sq ft.
The government is currently also working on a startup policy, due to be released in the last week of December. The government’s main agenda through the policy is to encourage startups and entrepreneurs by making available exclusivity for product supplies and services to the government departments.
According to Ranjan, the government will become a captive consumer for those products and services offered by the startups stationed in the T-Hub and they will not be required to go through the bidding process.
Ranjan and the Telengana government aims to make Hyderabad as the gateway for startups in India. According to him, the T-Hub is working with most of the startup facilities across the world including Silicon Valley, Hong Kong, Spain, England and Singapore etc.
Similarly, the Hyderabad state’s T-Hub is gearing up to extend linkages with Indian facilities for their foreign counterparts. “We are working out partnerships with startup parks across the countries and it will be both the ways,” said Ranjan.
On the innovation fund front, Ranjan added that while the government has already provided Rs 10 crore, two financial institutions, whose names haven’t been divulged yet, have also contributed Rs 20 crore each, taking the total tally to Rs 50 crore.
The newly launched T-Hub, the startup incubation centre is operational in full swing and bubbling with new and exciting activities. The current 800-seater facility is hosting about 130 startups more from diverse sectors like agritech, clean energy and biotech etc.
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