After a delay of more than a year, second phase of T-Hub, India's largest technology incubator, is set to become operational in the next couple of months. The swanky building of T-Hub 2.0 with 3.5 lakh square feet is nearing completion. Coming up near Mindspace Junction in the heart of Hitec City in hyderabad at a cost of Rs.276 crore, the facility will house more than 1,500 startups. When operational, this will be the largest incubation centre in the world, said officials.
Backed by Telangana government, the facility for innovation and entrepreneurship is expected to give further boost to the startup and innovation culture in this technology hub.
The building was originally scheduled to be ready in the second half of 2019. The work was delayed due to various factors and Covid-19 led to delay of another year.
T-Hub as the startup catalyst was established in November 2015. It is a public private partnership between the state government and three premier academic institutes - International Institute of Information Technology- Hyderabad (IIIT-H), Indian School of Business (ISB) and National Academy of Legal Studies and Research (NALSAR) University of Law.
Housed in a 70,000 square feet space called CatalysT within IIIT-H campus, it transformed as the largest and the best technology incubator in the country.
The facility rents out office and meeting space, and offers services such as connections with mentors and investors, to startup companies.
It hosts entrepreneurs, venture capitalists, investors, mentors and advisors. Several people from top academic institutes have taken mentor's role.
Over the last five years, T-Hub helped more than 1,120 startups garner about Rs 1,800 crore as investment and provided employment to over 2,500 people, minister for information technology K. T. Rama Rao said recently.
He pointed out the number of startup companies at T-Hub increased from 400 to over 2000. He also revealed that it encouraged 400 companies to launch corporate innovations.
KTR, the brain behind T-Hub, invited corporate leaders like Microsoft CEO Satya Nadella, Adobe Systems CEO Shantanu Narayen, chairman of Biocon Kiran Mazumdar Shaw to volunteer as mentors and address the startup and young entrepreneurs.
According to Ravi Narayan, CEO of T-Hub, it has designed and delivered over 75 innovation programmes, enabled startups go-to-market, got customers, raised funds and empowered corporations to build a culture of innovation and create impact.
The startup innovation team through its flagship programme, Lab32, has helped startups such as Chitmonks, Drink Prime and Pulse raise funding.
It is adopting three-pronged approach to propel T-Hub to the next level. This includes ensure access to global markets for funding of entrepreneurs, better corporate connect to emerging incubator from corporations as well as technology exchange between startups and key academic and research institutions.