The Indian Government is encouraging start-up innovation but most importantly, state governments are investing on fostering entrepreneurship by enabling collaboration between start-ups and key stakeholders of the business fraternity. T-Hub or Technology Hub is one such initiative by the Telangana Government which has grown from being a business incubator into a full-fledged innovation hub.
T-Hub is a facility established in the year 2015 which was launched as a place for innovation and new ideas in the start-up ecosystem for the State of Telangana. The first phase of T-Hub was launched as an innovation intermediary and business incubator by the Government of Telangana in conjunction with several academic and private institutions. It was aimed at helping the start-up ecosystem and its arrival was eagerly anticipated by innovators, corporates and investors.
Start-up Incubator to Innovation Hub
T-Hub eventually transformed into a ‘centre for innovation’. The transformation of T-Hub from being a start-up incubator to an innovation hub has transpired over a period of 6 years. T-Hub is now a world-class facility for entrepreneurship and more.
How is an Innovation Hub different from a Start-up Incubator?
An innovation hub is a mediator between a start-up and large enterprises that facilitates transaction of business between them in exchange for innovation. An innovation hub is an initiative whereas a start-up incubator is solely aimed at helping start-ups grow and succeed. They are usually non-profit organisations that provide early-stage start-ups with workspace, mentorship and resources that will be useful for their growth.
In its new avatar as an innovation hub, T-Hub aims to partner with start-ups along their growth. The differentiator of T-Hub from what it used to be is that it is now a start-up ecosystem builder. It also operates independently without intervention from any state government.
Beneficiaries of the T-Hub Innovation Hub
Hyderabad based start-ups are the main beneficiaries of the T-Hub Innovation Hub. However, the facility also helps international start-ups and especially pan-India start-ups from remote geographical locales. The state government of Telangana, mentors, venture capitalists, incubators and accelerators have much to gain from helping the start-ups that are a part of T-Hub.
Key benefits for start-ups
- T-Hub incubates start-ups and gives them the much-needed leg up to scale and grow.
- It fosters a spirit of entrepreneurship among first-time founders and aspiring entrepreneurs.
- It supports start-ups throughout their lifecycle, right from the product-market fit discovery to exit.
- Start-ups gain access to the global market through T-Hub. They also gain exposure to the international community of start-ups for collaboration.
- T-Hub has created a network of mentors, venture capitalists, incubators and accelerators which start-ups can benefit from.
The first phase of T-Hub was launched as an innovation intermediary and business incubator by the Government of Telangana in conjunction with several academic and private institutions.
What’s in it for me?
For start-ups, T-Hub is a means to expand and to get in-depth insights into the investment ecosystem. It also opens up the possibility of collaborations for start-ups. Start-ups get access to valuable partnerships which will help them reduce costs in the long run. Start-ups associated with T-hub enjoy much-needed support like service partner connections, and mentoring sessions. Also, they can reach out for grants through T-Hub and avail credits.
The second phase of T-Hub is underway which will be a bigger facility spread across 3.5 lakh square feet at Raidurgam. Post completion by the end of this year, Phase 2 of T-Hub can house 1000 start-ups. Also, to encourage entrepreneurship in Tier II and III cities, T-Hub will soon be expanding to these locations, as well as in rural and hinterland places. The rural areas/towns first on the list to soon get T-Hubs include Warangal, Karimnagar and Khammam.