The startup community in India appears to be the next key focus area for the government, as number of state governments are coming up or announcing ambiguous plans to help out startups in one another way in their respective states. Yesterday, the Telangana government has announced that it is developing India’s biggest incubation hub in collaboration with International Institute of Information Technology (IIIT) Hyderabad, Indian School of Business (ISB) and NALSAR University of Law.
The facility which is expected to be ready by this year end or early next year will be spread over 80,000 square feet and can accommodate about 400 startups.
Yesterday, Karnataka government had also announced number of initiatives to foster and help out startups in the state.
ISB would provide business mentoring, IIIT technology mentoring while NALSAR would help in intellectual property and related areas.
Under the second phase, the government would build a standalone facility, with three lakh sqft area which can accommodate 1,500 companies.
We plan to bring all startup programmes under one roof.
“It will be a standalone facility which will have lot of different entities working from it. The NASSCOM, 10,000 start-ups, will also start functioning from there. We are trying to build an incubator of incubators. There are lot of incubators in various academic institutions across the country and city as well. We want to bring them all under one roof so that they can enjoy facilities like networking with each other and get support from government and other private equity players and VCs,” Telangana’s Information Technology Minister K. Tarakarama Rao said.
The hub will also ensure infrastructure, support services and funds for the startups.
With the vision to make Hyderabad startups capital, the government plans to attract angel investors and venture capitalists to Hyderabad through investment meets.
“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,” he said.
This month, Hyderabad is gearing up to celebrate art and entrepreneurship and will be hosting August Fest on 30-31st August; with more than 1500 amazing entrepreneurs, filmmakers, photographers, designers etc. in partnership with TiE (The indus Enterprises), NASSCOM 10,000 Start-ups and Progress Softwares. [hr style=”striped”]
This is part of our special series, In Focus: The Hyderabad Startup Ecosystem, where we cover the tech and startup ecosystem of the next upcoming startup hub, Hyderabad. [hr style=”striped”]