T-Hub, Citi and IIT-Kanpur selects 29 startups for social innovation lab

Hyderabad: Telangana’s startup ecosystem builder T-Hub along with Citi and IIT-Kanpur has selected 29 startups for the social innovation lab. As part of the programme, these startups will receive grants and mentoring for their solutions that are aimed at creating a positive impact on society and these are early- and growth-stage startups across AgriTech, FinTech, […]

Hyderabad: Telangana’s startup ecosystem builder T-Hub along with Citi and IIT-Kanpur has selected 29 startups for the social innovation lab. As part of the programme, these startups will receive grants and mentoring for their solutions that are aimed at creating a positive impact on society and these are early- and growth-stage startups across AgriTech, FinTech, and HealthTech.

All the selected startups will receive monitoring, go-to-market strategy support, seed funding, networking, and scaling opportunities within the incubation ecosystems at IIT-Kanpur and T-Hub. Furthermore, 23 early-stage startups will receive a kick-off grant of Rs 10 lakh each, while the remaining six growth-stage startups will receive Rs 20 lakh each, aggregating to Rs 3.5 crore, a press release informed.

“India is witnessing a massive technological transformation led by startups especially in the AgriTech, HealthTech, and FinTech sectors. To continue building this transformation, startups need access to funds and the right mentorship and our synergistic partnership with Citi and IIT Kanpur has helped T-Hub achieve this need. This fund will allow startups to push past their current business roadblocks which will help them grow as sustainable businesses and create a lasting change in the economy,” said Srinivas Rao Mahankali, CEO, T-Hub.

The finalists were chosen from over 300 applicants after a rigorous selection process. IIT-Kanpur and T-Hub organized a month-long process to review the applications and to shortlist startups. The evaluation criteria for the programme was designed to assess startups across various parameters, including solution innovation, novelty, market potential, intellectual property, scale-up potential, and the potential for impact on society.

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