Telangana Government invests Rs 300 cr to launch T-Hub phase II focused for startups
- ByStartupStory | June 1, 2022
The Telangana State Government will invest around Rs 300 crore in the second phase of T-Hub, which is scheduled to open by the end of this year. Jayesh Ranjan, Principal Secretary, Government of Telangana said that the second phase of T-Hub would be five times larger than the first and will be the largest incubator in the world. And the government will invest five times what it did in T-Hub in the second phase. It would be around Rs 300 crore, he mentioned at the National Startup Conclave, HSX-2019, held at the IIIT—Hyderabad campus.
The T-Bridge programme links India’s startup ecosystem to the rest of the globe. It provides startups with worldwide visibility. This platform was created with the help of partners from all around the world. At present, 100 local startups are assisting in gaining worldwide visibility, he further elaborated. Telangana is home to over 4000 startups. The Telangana government intends to strengthen the state’s startup environment.
He also noted the Telangana government’s initiative is to purchase goods from local entrepreneurs. If they have products or services that are useful to the government, it would acquire goods and services from them through bilateral agreements rather than going through the laborious procurement rules,” he added. Several dozen items and services have been bought by various state government entities during the previous four years.
Ravi Narayan, CEO of T-Hub, stated in his keynote presentation that India’s startup environment is either second or third in the world. After China and the United States, India currently boasts the third-highest number of startup incubators and accelerators in the world. It is home to over 300 incubators and accelerators. Nearly 20% of significant IT players are involved with startups. However, this ratio is projected to rise to roughly 30% in the near future as more and more IT giants begin to make aggressive investments in startups.
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