T-Hub 2.0 to be inaugurated on June 28: KTR
Hyderabad: It is time for the big to turn to be the biggest. The T-Hub 2.0 with a 3.5 lakh sft space will be inaugurated on June 28, disclosed IT Minister KT Rama Rao. He said the new premises of T-works would also be launched soon and that it would be India’s largest prototypng facility.
Making these announcements at the launch of ‘An update to an India Economic Strategy to 2035: Navigating from Potential to Delivery’ organised by the Australian Consulate-General in Chennai on Monday, Rama Rao said the T-Hub 2.0 was being taken up at a cost of about Rs 276 crore. The building will house more than 1,500 startups, making it the largest startup incubation centre in the world. It will also have space for ecosystem enablers like the venture capitalists. T-Hub, backed by the Telangana Government, has so far helped more than 1,120 startups garner about Rs 1,800 crore investment and provide employment to over 2,500 people in Hyderabad itself.
T-Hub is a partnership between the Government of Telangana, three academic institutes in Hyderabad – the International Institute of Information Technology, the Indian School of Business and the National Academy of Legal Studies and Research and also the private sector.
T-Hub rents out office and meeting space, and offers services such as connections with mentors and investors, to startup companies in the technology sector.
Due to a robust innovation ecosystem that T-Hub and other enablers in Telangana have built, the State has seen the number of startups go past 4,200 now. It designed and delivered many innovation programmes and enabled many international startup connections.
T-Hub’s corporate memberships and partnerships have enabled more than 350 startups to collaborate, raise money or get acquired by large corporations. T-Hub has been working to improve Hyderabad’s share in investments raised by technology startups. Efforts are also on to increase the number of early stage startups within Telangana. The number of new startups as well as second startups (by the existing founders) too is on the rise.
There could be about 500 angel investors in Hyderabad and another 100 in other parts of Telangana. TS has set a target to increase this number 10-fold.
T-Hub has provided national and international startups access to better technology, talent, mentors, customers, corporations, investors and government agencies. T-Hub has also established Soonicorn (soon-to-be-unicorns) Club, an initiative to recognise and support potential players to be unicorns from the local ecosystem and help them achieve their business objectives, he said.
