Telangana Chief Minister K Chandrasekhar Rao said the T-Hub was founded to bring the best talent from across the country to create a startup ecosystem. He inaugurated the second phase of the T-Hub in Hyderabad.
Speaking at the gathering, the Chief Minister said that the state has created a world-class entity at T-Hub to promote entrepreneurship and innovation. He also told that this new facility is five times bigger than the earlier one and it aims to incubate the next generation of startups that would one day be strong pillars for our Indian economy. He said that the journey of T-Hub started as an idea, eight years ago when Telangana became the youngest state in India.
“We took a conscious decision that our state would consistently encourage innovation and entrepreneurship in a big way. We launched T-Hub in 2015, as a commitment to that decision. Today, seven years later, we are here to start our second phase of expansion, to build a resilient start-up ecosystem in India,” the CM said.
“Our state’s startup policy is progressive, it has helped forge fruitful partnerships with both corporates and academia. This is something very uniquely wonderful about our state. Every stakeholder, be it from academia or R&D institutions or corporate, have wholeheartedly come forward to synergise its activities to support innovation and entrepreneurship,” he said.
He also stated that the T-Hub was founded to bring in the best talent from across the country to nurture a startup ecosystem and it has now become a national role model.
It has impacted over 2,000 entrepreneurs and seen $1.19 billion raised in funding by T-Hub startups. It has facilitated connections with venture capitalists and angel investors, establishing a brand name synonymous with innovation, the CM added.
“We want Telangana to be known as the startup state of India. Our state’s startup ecosystem is valued as among the top 10 global ecosystems in affordable talent. It is among the top 15 startup ecosystems across Asia in attracting funds,” the CM said.
Further, he stated that in 2021, the startup ecosystem of Telangana was valued at $4.8 billion. Among cities in India, Hyderabad offers the best standard of living, and they want Hyderabad to be known as the startup capital of India.
“Our startups are providing valuable collaboration to the main sectors of our economy, namely IT, life sciences, aerospace and defence, and automotive including electric vehicles. Many of our startups have also created products and solutions relevant to social sectors like education, health, agriculture, sanitation, and the environment. All this has been made possible due to the very progressive policies in our state,” the Chief Minister said.
IT minister KT Rama Rao, IT Secretary Jayesh Ranjan, Cyient Chairmen BV Mohan Reddy and officials were present in the inauguration ceremony.