Hyderabad set to zoom into start-up big league

By: Prashanth Chintala

Hyderabad is expected to emerge as the desired destination for start-ups in the coming year with “T-Hub,” claimed to be the country’s largest start-up incubation centre, getting ready for inauguration by next month.

Spread over 60,000 square feet, the six-storey building is part of the first phase of the Telangana government’s initiative to give a boost to the start-up eco-system in the State.

“The T-Hub will give a boost to start-ups. In a year or so, I believe Hyderabad will be the place to be in for any early stage start-up,” president of the Hyderabad Software Enterprises Association (Hysea), Ramesh Loganathan, told The Hindu.

According to Mr. Loganthan, who is actively involved in the promotion of start-ups in the city, the State government has targeted to ensure that T-Hub would be home for at least 100 start-ups in the first one month of its operations and 300-400 start-ups in a year.

“I think this will happen,” Mr. Loganathan said adding that the construction of the incubation centre has been completed and it is getting ready for inauguration by the Union Communication and Information Technology Minister Ravi Shankar Prasad. Mr. Loganathan’s confidence in this regard stems from the fact that not only Hysea and the State government but also TiE (The Indus Enterpreneus) and captains of various industries have embarked on an initiative to nurture, accelerate and amplify the start-up eco-system in Hyderabad.

Informal group
An informal group that includes the Directors of Hyderabad-based IIT, IIIT, BITS, ISB and industry leaders like B.V.R. Mohan Reddy, Srini Raju and J.A. Chowdary and Presidents of TiE and Hysea started an initiative called Hyderabad4Innovation (H4I) to nurture innovation and entrepreneurship in the city. H4I is also stated to have built a directory of academic incubators, social groups, research institutions and other commercial (incubators, co-working spaces, seed funds and accelerators) highlighting the support available for start-ups.

Mr. Loganthan, who is leading this initiative, said that the group would meet once in a month or two to discuss ways to find the best ways to help start-ups. “I don’t think that this kind of network is there in any city. All these efforts will start panning out in two years,” he said.

The Chairman of the National Association of Software and Services Companies (Nasscom), B.V.R. Mohan Reddy, said that, given the quantum of workforce which is joining the mainstream of the Indian economy at present, there was a need to create 100 million jobs in the next 10 years.

“This means we need to create about a million jobs every month. For this, we need to have 50,000 start-ups (across the country) now. Of these, 5,000 start-ups will remain after five years. And, there will be 500 of them which will be successful and left behind after 10 years. This is not surprising, this is the norm anywhere in the world,” he said.

For encouraging establishment of so many start-ups, Mr. Reddy said that “ease of doing business has to improve.”

Laying the foundation stone for the T-Hub in January, this year, Telangana Information Technology and Panchayat Raj Minister, K.T. Rama Rao, had said the facility, when fully functional, was expected to generate employment for 3,000 people.

Source: The Hindu

Leave a Reply

Your email address will not be published. Required fields are marked *