Chief Minister K Chandrashekhar Rao wanted Telangana to be known as the startup State of India, with Hyderabad winning global recognition for having a robust startup ecosystem. He said the Telangana government invested in the second phase of T-Hub, with an aim to incubate next generation of startups which would be strong pillars of Indian economy in future.
The Chief Minister formally inaugurated the Phase-2 of T-Hub, the country’s leading innovation and startup catalyst here. The facility will support over 2,000 startups under one roof, with a total built-up area of 5,82,689 square feet, making it the world’s largest innovation campus. T-Hub will provide young Indians to launch their startups with a collaborative innovation ecosystem.
Speaking on the occasion, Chandrashekhar Rao reminded that India will be celebrating its 75th anniversary of independence next month and at this juncture, it was important to provide a clear vision and roadmap for the country about its future, especially to the youth. He stated that Telangana was building a resilient startup ecosystem in India.
“Young India is aspirational. It wants to be challenged and seeks to compete globally. Our government recognises this aspirational India and wants to build India which is known equally for its entrepreneurial and technological capabilities,” he added.
Observing the huge appetite for entrepreneurship among youth in India, the Chief Minister said the Telangana government decided to launch Phase-2 of T-Hub and provide them best support for startup. He hoped that these startups bring global recognition to the State and the country.
The startup ecosystem in Telangana was ranked among top 10 global ecosystems in affordable talent and among top 15 in Asia in terms of attracting funds. Further, Hyderabad city offers best standard of living in India.
Chandrashekhar Rao stated that Telangana’s startup policy was progressive which helped fruitful partnerships, with stakeholders from academia, research and development institutions and corporate firms coming together to synergise and support innovation and entrepreneurship. Thus, Hyderabad-based startups were providing valuable collaborations with IT, life sciences, aerospace, defence, automotive including electric vehicles.
“T-Hub was founded to bring together the best talent from across the country to nurture a startup ecosystem, but it had became a national role model. It has impacted 2,000 entrepreneurs and witnessed funding of 1.19 billion dollars for startups. We made doing business easier for the startups,” the Chief Minister said. He explained how the government supported sister institutions like We Hub, T-Works, TSIC, RICH and TASK which have become champions in their own right.
On the occasion, the Chief Minister asked IT and Municipal Administration Minister KT Rama Rao along with the officials concerned to create infrastructure on part with growth of IT and startups in Hyderabad to ensure that the ecosystem is not spoiled. He also requested T-Hub Board chairman BVR Mohan Reddy to submit a representation on his suggestions for improving the teaching system to support the startup ecosystem. “We will discuss in the State Cabinet to take a positive decision. The State government is ready to provide whatever support required for the industry,” he asserted.
Earlier, Cyient founder and T-Hub Board chairman BVR Mohan Reddy urged the Chief Minister to ensure that the young talent become more knowledge-centric. He emphasised the need to increase the vigour and innovation in the teaching in this regard to encourage entrepreneurship. Stating that change provides lot of new opportunities, he felt that the demand for technology talent was extremely high across the world.
IT and Industries Minister KT Rama Rao, MP G Ranjith Reddy, Principal Secretary for IT and Industries Jayesh Ranjan, DGP M Mahender Reddy, and T-Hub CEO M Srinivas Rao along with officials, diplomats, representatives of corporate giants, Indian unicorns and startups, participated in the event. Telangana Today