The Telangana government is set to launch the biggest start-up incubator in India called T-Hub in Hyderabad. It looks like more than 500 start-ups are vying to get into T-hub which will offer them seed funding, space, mentorship and opportunities to network all under one roof.
T-Hub will be the first complete eco-system in India that will offer 360 degree support for budding entrepreneurs. It is being touted as India’s largest innovation and technology incubation centre. Many large VC firms like Kalaari Capital, Peepul and Sequoia are already supporting T-Hub.
In Phase 1, T-Hub is being set up at in six-storey building at IIIT-H at a cost of Rs 35 crore, and is spread over 60,000 sq feet. This building will be used for the next three years and will house about 800 start-ups.
In Phase 2, which will be launched in 2017, it will have a campus of its own spread over 3,00,000 sq ft. The T-Hub is in collaboration with IIIT, Hyderabad, Indian School of Business and NALSAR University of Law. By 2020, it will incubate 1,000 start-ups the company said. It is also expected to provide annual employment for at least 3,000 people by 2017.
T-Hub is being launched on September 7, and the government is planning to get an investment of Rs 300 crore from VCs. The Telangana government has roped in Tata Group Chairman Emeritus and noted industrialist Ratan Tata to inaugurate it.
The T-Hub is one of the key features of the Telangana government to make the state a preferred IT destination. The government has set up an initial innovation fund of Rs 10 crore which they state will be scaled up to $100 million.
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