Innovation Cell Starts Operations

The Centre in IIT-Hyderabad will benefit sectors like pharma and agriculture State Innovation cell commence its operations on Wednesday. Earlier, Minister KT Rama Rao had announced the formation of the state Innovation Cell under Telangana State Innovation Policy, Pharma, Agriculture and other sectors to be benefitted with the state Innovation cell.

The Scope of the state Innovation Cell is to nurture early-stage startups and enable them to get into the market With T-Hub and RICH, Hyderabad has already acclaimed international reputation and the formation of State Innovation cell, Telangana has taken a step forward research. The SIC is currently located in IIIT Hyderabad and led in the interim by Prof. Ramesh Lokanatham (Professor CO-Innovation, IIIT Hyderabad) said, Minister KT Rama Rao.

The scope of the State Innovation Cell is to nurture and enable early stage startup ecosystem. New startups will be nurtured and taken to the market.

The cell will be the single window for administering all incentives announced in the innovation policy for startups and incubators. The immediate focus of the SIC is to document, network and amplify the early stage ecosystem.

Specifically, an initiative has been started, to work and network all the co-working spaces and through shared joint support enable these spaces to be as effective as incubators. Through these co-working spaces, the early stage startups will be provided business/strategy mentoring, market connection and investor access.

The endeavour is to direct all early stage start-up, applying to T-Hub to a participating, qualified co-working space and through the space enable the start-ups to grow to initial market traction and be ready for angel stage with support offered by T-Hub and or others Co-Working spaces registered under this initiative along with their startups will be periodically monitored to understand the gaps in their capabilities helping the cell understand the enablement required. Based on this, regular monthly meetups and workshops will be organised. The specific shared support offered will be in the form of operational support (banking, legal, accounting, etc.) startup boot camps (accelerator mode short workshops) and support for mentoring/industry/investment and a single window for all state incentives.

Source: Telangana Today

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