India’s rising reputation at the international level just acquired the formal boost. With Ratan Tata and ESL Narasimhan, the Governer of Telangana inaugrating India’s largest startup incubation center in Hyderabad, state finds a new support and recognition for the entrepreneurial contribution it has been making since decades.
Hyderabad is all set to dethrone Bengaluru as the new IT Capital of India and with this inauguration the reputation of Telangana state just got incremented by leaps and bounds. The Startup Incubation center inaugurated is only one of its type in India. The center can host upto 600 startups at a time.
The newly built startup incubation center is built in IIIT-Hyderabad and for now the center has a capacity of housing upto 120 startups, which will increase up to 600 startups with passing time. The state and the central government are coming together to develop this institution and set an example for the other states. The newly established institution is bound to inspire minds from the remotest corners of the country to take a chance at entrepreneurship.
IIIT-Hyderabad, Indian School of Business(ISB) and National Law University, Nalsar are the three institutions which will be guiding and mentoring the startups housed at this establishment. The highly intellectual professors, alumniis and market experts will visit the premises regularly for delivering lectures and honing the skills of the entrepreneurs.
The government and private bodies like Tata are looking forward to help startups develop a base before moving out of the establishment. Every 140 startups will have to stay at the institute for 6 months and if need be the period will be extended for another six months. The government is looking forward to promote Make in India campaign through this establishment. With Indian startups and entrepreneurs concentrating on building a world class business or manufacturing hub will help India rise at the International level and acquire amazing results.
The institution has been named as T-Hub and it will concentrate on startups ranging from service and manufacturing sector but technical startups are going to bag the best of eyes. It is the technical startups that will help India rise at the international level and attract investors from the remotest corners of the world.
After the launch of the first phase, the Government will begin work on the second phase of the project with an estimated cost of Rs. 150 crore. The government is in the process of selecting the final design for the building. It will have a built-up area of 3 lakh sq ft.
With Ratan Tata planning to invest in the startup incubation center, it is going to go only big. People from the remotest corners of the country can register for this institute and acquire a chance to develop their business.
The central government is looking for provide these startups with the requisite funds through MUDRA Yojana. MUDRA Yojana will help a lot of startups to start and make a dent in the world.
Now that India has started to take entrepreneurship seriously, it is only a matter of time for this country to create an impact on the International Fraternity.
Latest posts by Pranav Shree (see all)
- Union Budget of India Promotes MSME and Startup Culture - March 1, 2016
- New definitions under Startup India Standup India - February 24, 2016
- SBI’s new product e-Smart SME E-commerce loan will simplify loans - February 23, 2016