Telangana Govt. Allocates $100M Funds For India’s Largest Tech Incubator, Ratan Tata To Inaugurate it
Hyderabad will get India’s largest incubator center for tech startups called ‘T-Hub’, for which a budget of $100 million has been allocated by the Telangana Govt. Tata Sons Chairman Emeritus and industrialist Ratan Tata will inaugurate the center on September 7th.
Secretary, Information & Communications Technology (ITC) in Telangana Govt., Jayesh Ranjan said, “Our Technology Incubation centre ‘T-Hub’ which is meant to promote start-ups and innovators is going to be inaugurated on September 7 by Rata Tata,”
Telangana Govt. has collaborated with major educational institutions in and around Hyderabad for making T-Hub one of such largest innovation hubs of the nation. Institutes like Indian School of Business (ISB), the International Institute of Information Technology (IIIT-Hyderabad) and NALSAR University of Law are already part of their collaborative program.
As per reports coming in, during the first phase, T-Hub will be spread across 60,000 square feet, which can easily accommodate 800 start-ups. The second phase will expand this facility to 3,00,000 square feet area, which can help 5000 start-ups to set up their base there. In fact, Telangana Govt. wants Phase 2 to begin somewhere around 2018 when Hyderabad hosts World IT Congress event.
A special ‘innovation fund’ with a corpus of $100 million has also been announced, which will help startups to kickstart their ventures and take assistance for scaling up. Tata Capital can purchase a minority stake in T-Hub’s innovation fund. As of now, a budget of Rs 10 crore has been allocated for the same.
Ranjan said on the issue of Tata Capitals minority stake: “The first round of discussions has happened over it. T-Hub board meeting would be held tomorrow and there will be another round of talks (in this regard).”
The newly formed Telangana state has been working overtime and over-drive to bring more and more IT biggies in the state, and to encourage entrepreneurship along with Digital India, in the most impressive way.
Here are few of the notable achievements and announcements from the state in 2015:
- Amazon to invest Rs 1800 Crore to build their largest campus outside US in Hyderabad
- Google to build their largest campus outside US in Hyderabad
- Uber will build their largest campus outside US in Hyderabad
- Telangana Govt. Will Provide Internet Across Every Home In The State
- Google Fiber With Internet speed of 1 Gbps will come to Telangana
- and now India’s largest tech startup incubator in Hyderabad