CM K. Chandrasekhar Rao Wants To See Hyderabad As The Startup ...

Hyderabad NewsCM K. Chandrasekhar Rao wants to see Hyderabad as the startup capital of India

• TN City Desk
• Updated Jun 29, 2022, 13:55 IST

Telangana Chief Minister K. Chandrasekhar Rao has said that the state government wants to see Telangana as the startup state of India and Hyderabad as the startup capital of India. The CM was speaking at the inauguration of the second phase of T-Hub in Hyderabad on Tuesday.

Telangana Chief Minister at T-hub 2.0 inauguration

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Hyderabad: Telangana Chief Minister K. Chandrasekhar Rao, while speaking at the inauguration of the second phase of T-Hub in Hyderabad on Tuesday, said that the state government wishes to see Telangana as the startup state of India and Hyderabad as the startup capital of India.

The Chief Minister also said that India may soon see the next big breakthrough in startup innovation come from Hyderabad.

Deemed the world's largest technology startup incubator, T-hub 2.0 is spread over 370,000 square feet and is designed to house more than 1,500 startups. The new facility has come up at Raidurg in Hitec City which is a part of the information technology corridor.

The Chief Minister said that launched eight years ago in 2015, T-Hub has now become an exemplar in the country. The T-Hub which is a key enabler of the innovation ecosystem of Hyderabad was founded to bring in the best talent from across the country to nurture a startup ecosystem, noted the CM.

"Today, I can proudly say we have created a world-class entity at T-Hub to promote entrepreneurship and innovation. 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," he said.

The CM further pointed out that T-Hub has impacted over 2000 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.

Rao also noted the first phase of T-Hub showed that there is a huge appetite for entrepreneurship among the youth in India.

"We felt we must capitalise on this appetite. That we must provide them with best support from the startup stakeholders and give them a space for high-quality incubation and acceleration. Three years ago, our government decided to invest in the 2nd phase of T-Hub. 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."

Noting that In 2021, the startup ecosystem of Telangana was valued at $4.8 billion, the CM said that the state's startup ecosystem finds mention among the top 10 global ecosystems in affordable talent. The state is also among the top 15 startup ecosystems across Asia in attracting funds.

Stating that India is only weeks away from celebrating the 75th anniversary of its independence, he underlined the need to provide a clear vision and roadmap for the country about its future, especially for the youth.

"Young India is an aspirational India. 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," he added.

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