On a mission of making India a far sighted IT Hub, the state government of Telangana announced the launch of its largest start up hub ‘T-Hub’ on the outskirts of Hyderabad earlier this month. Start up generation where everyone is governing with the startup has been ravening across the globe and India is no way far rather leading in all the markets.
T –hub comes out as the first habitat or ecosystem that supports the start up and had already tied up with around 20 venture capitalists. Famous VC firms such as Ineda Venture Group, Kalaari Capital, Peepul, and Sequoia have expressed support to the project. T –hub is purely Indian and coming out with the motto of supporting India and Indian start ups as a whole, so that they will groom out best way while exposed to the global market.
The project is being developed in public private partnership (PPP) mode by the Telangana government, in collaboration with the International Institute of Information Technology (IIIT), Indian School of Business (ISB), and NALSAR University of Law. Chairman Emeritus of Tata Sons, Ratan Tata, inaugurated the facility in the presence of several dignitaries.
This project will undergo several phases where the first phase supports a six storey building in the campus if IIT, which can accommodate around 150 start ups. Earlier Bangalore was the prime choice.
Till now, there has been tremendous response to the $6 million first phase, which is offering seed funding, working space, mentorship, and opportunities to network in one place. More than 300 startups have lined up to get registered so far, but only half were successful while the rest were assured of assistance in the coming future.
The second phase of T-Hub is set to be completed in less than three years at a cost of about 150 crore rupees.
A software engineer who worked in the US between 2001 and 2006 said that venture capitalists in Silicon Valley, including those from Hyderabad, evinced interest to pitch in for the innovation fund. He said “We will render all assistance to the facility until it becomes self-sustaining. It will make revenues by leasing out office space to startups, VCs, angel investors, and others.”
