Telangana govt. becomes Startup-Friendly!
It’s time for Telangana now!
To become a Startup hub, seem to be the focus of many states in India. Maharashtra, Gujarat, Karnataka, and a few more states have already accepted the startup culture. Recently,Telangana, India’s newly formed state, has already begun taking baby steps .The focus of the state is to create a start-up ecosystem, sure enough to achieve success with their impressive plans.
PM Modi’s “Startup India” initiative is successful. Now, Telangana government is planning to host a similar event in its capital city Hyderabad, during the month of August.
But, their plans are still to receive a final nod. It is reported that Department of Industrial Policy and Promotion (DIPP) will conduct meet on Tuesday. DIPP is also looking forward to invite large number of start-ups and incubators at the event. Similarly, Nirmala Sitharaman (Commerce and Industry Minister) is expected to be briefed on the subject, this week.
DIPP officials also unveiled the reason why they planned to choose Hyderabad for their upcoming Startup event. It’s T-Hub is one of the best facilities in the country. Similarly, they were also impressed by the initiatives, taken by the state government encouraging startups. Currently, the state government is giving a lot of tax reliefs and has already started single-window clearances for budding entrepreneurs.
What is T-Hub?
T-Hub is a massive 70,000 sqft start-up incubation lab. Grounded on public/private partnership between the government of Telangana and premier academic institutions like International Institute of Information Technology, Hyderabad; Indian School of Business; NALSAR; as well as significant private-sector leaders.It is also reported that T-Hub, received wonderful response so far because the area is completely sold out and the hub already houses 800 start-ups.
- The government has plans to come up with a phase-II and -III of T-Hub in the state.
- Telangana’s IT minister K T Rama Rao has been touring the United States, along with other officials, searching potential investors. Besides, urging companies from Silicon Valley open their franchisee in their state, seems to be the other motive behind his visit.
- The state also plans to bring on board 20 global accelerators and incubators to build plug-and-play workspaces in public-private partnership mode.
- Telangana also plans to mobiliseaRs 2,000-crore innovation fund to help start-ups.
In April, the state government unveiled its new information and communication technology policy through which it plans to multiply IT exports over the next five years. Under the policy, the government said that it would develop a million square feet of workspace. The dedicated space will be take the next next five years to complete, covering 300,000 sqft of space would be used to develop phase-II of T-Hub.
Telangana, which celebrated its second anniversary last week, their government’s plans look quite impressive on paper. The actual implementation is what that creates a difference. If the development continues in the next few years, Telangana is sure to defeat Karnatakaand take over as the start-up hub in southern India.
- Telangana focuses to create a start-up ecosystem.
- Telangana is planning to host a startup event in its capital city Hyderabad, during the month of August similar to PM Modi’s “Startup India” Event.
- Department of Industrial Policy and Promotion (DIPP) will be having meetings regarding the matter on Tuesday. Also, NirmalaSitharaman (Commerce and Industry Minister) is expected to be briefed on the subject, this week.