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The government of Telangana and selected private companies have announced the launch of a startup ecosystem, T-Hub, which aims to aid and incubate budding entrepreneurs, in a private/public partnership deal.
T-Hub, with 70,000 square feet, will facilitate seating capacity for 800 people and can house upto 150 startups.
The facility has tied-up with 20 venture capitalists and has been in talks for collaboration with University of Texas, Houston, MIT Media Lab, Incubio of Spain and laboratories and academic institutions in India and abroad.
By connecting startups to top mentors, investors, organizations and academia, T-Hub will help every entrepreneur realize their dream. T-Hub’s vision and execution capabilities, coupled with industry and academia support will drive economic and social prosperity through entrepreneurship, and make T-Hub a vital node in the network of global innovation hubs. Together, we will fuel Hyderabad’s rise to become one of the top tech startup cities in the world,’’ IT minister K T Rama Rao said.
T-Hub was formally inaugurated by Tata Sons chairman emeritus Ratan Tata along with Telangana Governor E.S.L. Narasimhan. It has been developed by Telangana government, in collaboration with IIIT-Hyderabad, Indian School of Business (ISB) and NALSAR University of Law.
T-Hub will be managed by CEO Jay Krishnan and chief operating officer Srinivas Kollipara, who have prior experience of working within the startup ecosystem.
Few Key Things About T-hub:
- T-hub is a single, six-storeyed building spread across 70,000 square feet.
- The facility aims to offer seed funding, office space, mentorship and opportunities to network all under one place.
- It has partnered with premier educational institutions like Indian Institute of Technology – Hyderabad, Indian School of Business, NALSAR university.
- For funding, there are many large venture capital firms like Kalaari Capital, Peepul and Sequoia already on board with T-Hub.
- It is also expected to provide annual employment for at least 3,000 people by 2017.
KT Rama Rao has 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.
Infosys co-founder N.R. Narayana Murthy will be the mentor and one of the principal advisors of the facility. Besides, T-Hub has already roped in 60 personalities from top academic institutions as mentors.
The second phase of T-Hub, spanning 300,000 sq. ft, will be constructed within three years at an estimated cost of INR 150 Cr.
Aditi Avasthi, CEO & founder of embibe.com also commented on this development, “It’s amazing to see the Telangana government creating a strong catalyst to further strengthen the entrepreneurial spirit of Hyderabad. T-Hub will provide a clear path for entrepreneurial expression to the amazing talent present in IIIT and ISB along with other major educational institutes present in the city of Hyderabad. We look forward to our association with the progressive state of Telengana as it embraces digital in education.”
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