Hyderabad: Telangana State, which set up the largest incubator T-Hub, is now reading a bigger version it, T-Hub 2. This will be at least five-times larger than the existing facility and will be ready by end of this year, said IT Principal Secretary Jayesh Ranjan.
“We created T-Hub four years ago and it has become an instant hit. The appetite for such facilities has led us to expand. T-Hub 2 will be five times larger. We have spent about Rs 50 crore in creating T-Hub and you can imagine the kind of investments happening for T-Hub 2.0,” he said giving an ecosystem overview at HSX-2019 held at IIIT—Hyderabad campus.
The event was jointly organised by startup enabler Headstart, IIIT-Hyderabad, T-Hub and Telangana State Innovative Cell and others.
“T-Hub is the largest incubator in India and T-Hub 2 will be the among the largest incubators in the world,” the official said adding that the Government is spending about Rs 300 crore for T-Hub 2 and another facility T-Works, a prototype centre which will also be ready in another four months.
Among other initiatives of Telangana, he mentioned about T-Bridge, which he termed as a pioneering work. The T-Bridge initiative connects India’s start-up ecosystem with the world. It gives startups global exposure through partners in various geographies. Currently, 100 homegrown startups have got the international exposure. “We are working to add more bridging partners,” Ranjan said.
“If homegrown startups have products or services relevant to the Government, we will procure them by way of bilateral understanding without going through the cumbersome procurement policy,” he said adding that such products and services from another 20 startups are under evaluation.
Delivering his Key Note address, Ravi Narayan, Chief Executive Officer of T-Hub, said there are more than 4,000 startups in Telangana and they account to 15-20 per cent of the overall number of startups in India. The number in Telangana is growing more than 30 per cent year-on-year while compared to 15-20 per cent nationally.
Founding for startups in Telangana stood at around $ 400 million (about Rs 2,800 crore) in 2018, which came from 32 deals during the same period. This funding is about 4 per cent of overall funding that startups in India attracted, he said.
Telangana has more than 50 incubators and accelerators for supporting startups. There are around 300-400 MNCs operating in Telangana and about 40 of them are directly or indirectly associated with the startup ecosystem. India now has the third highest number of startup incubators and accelerators in the world after China and USA with about 300 incubators and accelerators. Almost 20 per cent of prominent IT players are engaged with startups and this is expected to rise up up to 30 per cent in near term as more IT firms started making investments aggressively in startups, Narayan said.
“HS-X is our first event in Hyderabad. It is a volunteer-driven annual event of Headstart ,” said Amit Singh, Co-Founder and Managing Director of Headstart. About 600 people participated in the event.