 "KCR inaugurates T-Hub 2.0, says Hyderabad poised for next big breakthrough")
Telangana Chief Minister K Chandrashekar Rao inaugurated T-Hub 2.0, the world's largest innovation campus in Hyderabad, and said the day is not far when the next big breakthrough in startup innovation will come from the city.
Noting that it is a very proud moment for him to inaugurate the new building of T-hub, KCR said the journey of T-Hub started as an idea, eight years ago, when Telangana became the youngest state in India.
"At that time, 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."
"We are only weeks away from celebrating the 75th anniversary of our country's independence, a major milestone in our history. At this juncture, it is very important for us to provide a clear vision and roadmap for our country about its future, especially to our youth," he added.
The Chief Minister said that Young India is an aspirational India and it wants to be challenged and seeks to compete globally.
"Our government recognised this aspirational India early on and wanted to put young India on the global map. We wanted to build an India known equally for its entrepreneurial and technology capabilities. Today, I can proudly say we have created a world-class entity at T-Hub to promote entrepreneurship and innovation."
The Chief Minister said that the state's startup policy is progressive, it has helped forge fruitful partnerships with both corporates and academia.
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" Around the fulcrum of T-hub, we promoted sister institutions to support different requirements of an entrepreneur. Today all of these institutions also, namely We-hub, T-Works, TSIC, RICH, and TASK, have become champions in their own right."
According to a release, T-Hub was founded to bring in the best talent from across the country to nurture a startup ecosystem. T-Hub has now become a national role model. It has impacted over 2000 entrepreneurs and seen 1.19 billion US dollars raised in funding by T-Hub startups. It has facilitated connections with venture capitalists and angel investors, establishing a brand name synonymous with innovation.
KCR said that Phase 1 of T-Hub has shown that there is a huge appetite for entrepreneurship among the youth in India.
"This new facility is five times bigger. Our aim is to incubate the next generation of startups that would one day be strong pillars for our Indian economy. We hope that through T-Hub these startups can strengthen their entrepreneurial spirit and bring global recognition to our state and the country with their accomplishments."
The Chief Minister said his government wants Telangana to be known as the start-up state of India.
"Our state's start-up 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. In 2021, the startup ecosystem of Telangana was valued at USD 4.8 billion."
He said among cities in India, Hyderabad offers the "best standard of living," and "we want Hyderabad to be known as the startup capital of India".
"Today, we are dedicating our T-Hub 2.0 facility to young Indians across the country. If they propose to build an innovative startup, we at T-Hub will provide them with a collaborative innovation ecosystem. The next journey of T-hub starts here in Hyderabad, today. The day is not far away when the next big breakthrough in startup innovation will come from Hyderabad," he said.
The release said that the innovation campus will act as a robust platform to elevate the stature of India's innovation ecosystem globally.
"T-Hub will further empower the thriving startup ecosystem and support the entrepreneurs in their growth journey by providing them with access to 6Ms - Mentors, Market, Motivation, Manpower, Money, Methodologies and 2Ps," it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)