Hyderabad: Telangana State Innovation Cell (TSIC) along with T-Incubators and other Enablers startup initiative called Rejig.HydStartups has selected 100 startups for the large-scale mentoring programme. The initiative received more than 300 applications from diverse sectors and different stages.
The programme was initiated to support startups in reimagining and repositioning their business model post-pandemic successfully and looks forward to impacting startups from the domains including lifesciences, fintech, manufacturing, agriculture, FMCG, emerging technology.
A webinar involving ecosystem catalysts recently was organised to understand the impact of the pandemic on the startups and expectations from the founders, to become resilient. Reflecting upon the inclusive approach taken by T-Incubators and Enablers, Telangana principal secretary Jayesh Ranjan said, “I am happy to say that Hyderabad today will be standing out for its — City as a Whole Approach — through a this most important initiative Rejig.HydStartups to support the startups in the coming weeks to become resilient post-pandemic.”
The webinar also saw a panel discussion involving Ravi Narayan, CEO of T-Hub & CIO of TSIC, Sridhar Pinnapureddy, Founder Chairman of CtrlS Datacenters, currently the President of TIE Hyderabad, Sateesh Andra, Managing Director of Endiya Partners, is an established VC and investor. The panel was moderated by Deepanwita Chattopadhyay, CEO of IKP Knowledge Park.
Some of the steps the founders could take, as mentioned by the panellists ranged from, identifying the alternate market for the existing product or service, rationalising the product or service, smart cost optimisation, to look out for answers by discussing with the customers, mentors, and investors.
Rejig.HydStartups spread out in three-weeks of mentoring to help startups connect with investors or gain corporate market access, will see a three-pronged approach— understanding the concerns of the startup with a completion of leg work assigned by the mentor, understanding the change of strategy, and a revised pitch. The program will culminate in a massive pitch day event where the startups will be pitching for equity funding, collateral-free debt funding, or corporate market access.