Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore in three years, according to IT minister KT Rama Rao.
Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore in three years, according to IT minister KT Rama Rao. The first phase of the project is ready. The second phase, to be located within 300,000 square feet, will be created within a 15-acre area earmarked for the proposed games park at Raidurgam near Hitec City. The second phase is expected to be operational in three years.
T-Hub is an initiative of the Telangana government and has seen collaborative efforts from the Indian School of Business (ISB), the International Institute of Information Technology (IIIT-Hyderabad) and NALSAR University of Law, besides other organisations. "We have put in Rs 40 crore in the present facility in first phase at the IIIT campus in Hyderabad. It would cost Rs 150 crore to put up the physical space,” said Rao.
The Telangana government, which will launch its innovation policy on November 5, has put in Rs 10 crore into T-Hub's initial seed fund of Rs 100 crore. The rest would be contributed by angel, seed, venture capital (VC) and private equity (PE) firms.
In the first phase of T-Hub, a 70,000 square feet building named Catalyst has been created on the IIIT-Hyderabad campus. This will be inaugurated by Telangana and Andhra Pradesh Governor, ESL Narasimhan and Tata Sons Chairman, Ratan Tata on November 5.
T-Hub, which claims no government intervention in its functioning, aims at catering to local entrepreneurs. It will also act as a gateway for Indian startups to access foreign markets. Rao further said that 140 startups had already been selected for incubation and about 170 more were in the pipeline.