Govt aims to incubate next generation of startups: KCR

Hyderabad, June 28 (Maxim News): Chief Minister K Chandrasekhar Rao said the State government is aimed at working to incubate the next generation of startups that would one day be strong pillars for the Indian economy.

The Chief Minister inaugurated the new T-Hub 2.0, a state-of-art facility to boost business and touted as the world’s largest innovation campus at Raidurg in the city on Tuesday.

Speaking on the occasion, the Chief Minister said the State government has recognized the aspirations of the young generation and has decided to create more opportunities for them to compete globally.

“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 Telangana 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,” KCR said.

The Chief Minister said his government has created a world-class entity at T-Hub

to promote entrepreneurship and innovation.

Telangana’s startup policy is progressive and has helped forge fruitful partnerships with both corporates and academia.

KCR stated that 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.

“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 Telangana and the country with their accomplishments,” the Chief Minister said.

Stating that in 2021, the startup ecosystem of Telangana was valued at USD 4.8 billion, KCR said Hyderabad is being offered the best standard of living and the State government is aimed at working that Hyderabad should be known as the startup capital of India.

Minister for IT and Industries KT Rama Rao, Chief Secretary Somesh Kumar, DGP Mahender Reddy, and others were present. (Maxim News)

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