Telangana to invest Rs. 300 cr on T-Hub phase-II.

The second phase of T-Hub, an incubator for start-ups, will be ready by the end of this year with an investment of Rs. 300 crore, according to Jayesh Ranjan, Principal Secretary, IT & Industries, Telangana.

Speaking at the National Startup Conclave, HSX-2019, held at IIIT-Hyderabad campus, on Saturday, he said, “It will be the world’s largest incubation centre.’’ Telangana can boast of having the largest technology incubator in the country, he added.

The government was working on extending significant funding to start-ups and modalities were being explored, the official said.

Referring to an initiative by the State government to procure products from home-grown start-ups, he said over three dozen products and services were procured by various government agencies in the last four years and the number will go up in future.

“Right now, we are evaluating 15-20 products and services for procurement by government,” Ranjan said.

In his keynote address, Ravi Narayan, CEO, T-Hub, said there were 4,000 start-ups in the State accounting for around 15-20 per cent of the total start-ups in the country.

The growth rate was over 30 per cent per annum which was much higher than the national growth rate of 15-20 per cent, he added.

HBL