Hyderabad, India (CU)_ Telangana Chief Minister K Chandrashekar Rao launched the largest innovation campus in the world, T-Hub 2.0, in Hyderabad and stated that the city will soon produce the next major breakthrough in startup innovation. Highlighting that it is a watershed moment for him to open the new T-Hub building, KCR stated that the journey of T-Hub began eight years ago, when Telangana was recognized as the youngest state in India.
KCR said, “At that time, we took a conscious decision that our state 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.” He added, “We are only weeks away from celebrating the 75th anniversary of our country’s independence, a major milestone in our history. At this juncture, it is very important for us to provide a clear vision and roadmap for our country about its future, especially to our youth”.
According to the Chief Minister, Young India is an aspiring India that wishes to be challenged and compete globally. He said, “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. Today, I can proudly say we have created a world-class entity at T-Hub to promote entrepreneurship and innovation.”
The Chief Minister stated that the startup strategy of the state is progressive and has fostered successful relationships with both corporations and academic institutions. He said, “Around the fulcrum of T-hub, we promoted sister institutions to support different requirements of an entrepreneur. Today all of these institutions also, namely We-hub, T-Works, TSIC, RICH, and TASK, have become champions in their own right.”
According to reports, T-Hub was established to attract the nation’s top talent in order to foster a startup environment. T-Hub is now a national example to follow. T-Hub firms have raised $1.19 billion in capital and have influenced more than 2,000 entrepreneurs. It has also fostered relationships with venture capitalists and angel investors and formed a brand name connected with innovation.
KCR stated that Phase 1 of T-Hub has demonstrated that India’s young population have an enormous appetite for entrepreneurship. He said, “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.”
The Chief Minister stated that his administration desires Telangana to be recognized as the startup state of India. He said, “Our state’s start-up ecosystem is valued as among the top 10 global ecosystems in affordable talent. It is among the top 15 startup ecosystems across Asia in attracting funds. In 2021, the startup ecosystem of Telangana was valued at USD 4.8 billion.”
According to him, “Among the cities in India, Hyderabad offers the best standard of living and we want Hyderabad to be known as the startup capital of India”. He added, “Today, we are dedicating our T-Hub 2.0 facility to young Indians across the country. If they propose to build an innovative startup, we at T-Hub will provide them with a collaborative innovation ecosystem. The next journey of T-hub starts here in Hyderabad, today. The day is not far away when the next big breakthrough in startup innovation will come from Hyderabad”. According to the media statement, the innovation campus would serve as a powerful platform to raise the global standing of India’s innovation ecosystem. It said, “T-Hub will further empower the thriving startup ecosystem and support the entrepreneurs in their growth
journey by providing them with access to 6Ms – Mentors, Market, Motivation, Manpower, Money, Methodologies and 2Ps”.
