In an endeavour to sway the entrepreneurship landscape in Telangana, NASSCOM 10K Start-up Program in partnership with the Government of Telangana today inaugurated the T-Hub NASSCOM Start-up Warehouse in Hyderabad.
The event was addressed by Information Technology Minister Kalvakuntla Tarakarama Rao, NASSCOM Chairman BVR Mohan Reddy, T-Hub Founder R. Chandrasekhar and T-Hub CEO Jay Krishnan.
The 10,000 Start-ups program has initiated start-up warehouses across different states to create a micro-ecosystem where many start-ups and entrepreneurs can work together and share their experiences with each other. After successfully starting the first start-up warehouse in the country in Bangalore in 2013, followed by warehouse in other cities including Kolkata, Navi Mumbai, Pune, Kochi, and Gurgaon. NASSCOM 10,000 start-up program is now looking to launch this facility in other emerging cities in partnership with their respective Governments. NASSCOM has also expanded its start-up warehouse in Bengaluru to 40,000 sq feet from the existing 10,000 sq feet to keep up with the response it has received from budding entrepreneurs in the state of Karnataka.
According to a NASSCOM report titled ‘Start-up India-Momentous Rise of the Indian Start-up Ecosystem’, Hyderabad is one of the emerging cities. The Telangana Government has been empowering start-ups by focusing on initiatives that strengthen their value propositions including the one of a kind incubation center T-Hub in collaboration with ISB, NALSAR and IIIT, and has also announced $100 Million venture capital fund. T-Hub is proud to have the Nasscom startup warehouse in Catalyst premises and hopes that this strengthens the startup ecosystem further, which has always been the aim of T-Hub.
On the occasion of inauguration, the NASSCOM president said, “Hyderabad start-up ecosystem has grown extensively in the last one year. We wanted to back this culture and support these young minds to foster and create tomorrow’s global brands. The new warehouse will be a part of T-hub incubator, which will provide best of the best facilities to entrepreneurs and start-up founders. NASSCOM is happy to set yet another start-up hub and thank the Telangana Government for their constant support and assistance”.
He said, “Hyderabad is the one of the hubs for Indian Technology. The city is known to be a center of many technology startups. The startup warehouse in partnership with the Government of Telangana will further provide an affordable co-working space to the young entrepreneurs, taking care of their concerns of building right product in the market & giving them a platform to emerge as stronger players”
A start-up warehouse is an incubator and co-working space for technology start-ups and early stage product companies at a reasonable cost. The co-working space allows early-stage technology start-ups to work for 6-12 months during which it will facilitate demos and pitches by start-ups to investors, large corporate’s, other accelerators/incubators and individual mentors. NASSCOM’s 10,000 Startups Program is supported by Google, Microsoft, IBM, AWS and Kotak. (INN)