Hyderabad has become an emerging hub of opportunities for entrepreneurs after the initiative of Telangana government to develop T-hub and promote Hyderabad as startup capital of India. With strong IT sector and huge pool of talent, the city is expected to attract startup entrepreneurs globally.
Telangana State has already tied up with Indian School of Business, Indian Institute of Information Technology and NALSAR for developing India’s biggest incubation centre in Hyderabad. The three-lakh sqft. area can accommodate 1,500 companies and have good facilities of infrastructure and support services. The first phase of T-hub will go live at IIIT-Hyderabad on June 1, 2015.
After the formation of Telangana, Hyderabad has edge over other cities to boost Indian startup ecosystem in 2015. Recently, the government has doubled the IT exports from the State from Rs. 63,000 crore to Rs. 1.20 lakh crore.
Mr. Rama Rao, IT minister of Telangana says, “We want Hyderabad to be identified with start-ups. In the West, universities played a big role in nurturing young talent, which ultimately created huge IT companies. We will provide similar environment to Indian startups in Hyderabad. Youngsters just need to have a great idea. The business plan, technical support and legal support like help on intellectual property rights etc. will be taken care by T-Hub”
The government has also announced $100-million venture capital fund for financial assistance for start-ups, if they are housed in T-hub. The Government has planned to send a delegation of fund managers to Europe, Gulf and other Asian countries to raise funds for their initiative.
T-Hub will have three level – Launch Pad, Accelerator and Propeller. “We plan to bring all start-up programmes under one roof” he said.
It’s worth mentioning here that IIIT-Hyderabad already operates a tech incubator called Centre for Innovation & Entrepreneurship (CIE), which has already incubated more than 40 startups and seed funded 12 startups. Even popular angel investors and venture capitalists such as Saif Partners, Kalaari, and Sequoia Capital are interested in this region, much to the delight of entrepreneurs.
According to The Times of India report, Hyderabad churns out 15% of new startups in the country every year. Therefore, Hyderabad has great potential of becoming a global platform for encouraging, nurturing, funding and developing budding entrepreneurs.
“T Hub would also serve as an incubator of incubators. Our target is also to have at least 10 incubators by the end of 2017,” he said.
After becoming joint capital of Telangana and Andhra Pradesh, Hyderabad now has diversified economy and sustainable business sector that vibrantly prioritizes entrepreneurship, growth and development. However, the vision of Government of Telangana to transform and establish Hyderabad as an excellent startup city in the country remains in the hands of directors of T-Hub.
The initiative of T Hub would surely pump lifeblood into the Indian entrepreneurial ecosystem and attract entrepreneurs towards Hyderabad. So, if the plan goes well, Hyderabad has potential to become global destination for startups and will surely going to leave Bangalore well behind by becoming the next Silicon Valley of India.