Telangana Chief Minister K Chandrasekhar Rao will on Tuesday inaugurate the new T-Hub 2.0, an incubation facility to boost business and innovation in the state. The business incubator facility has been developed to boost the technology innovation ecosystem in the state and attract new investments.
“The best way to predict the future is to create it – Lincoln. Delighted to announce that Hon’ble CM KCR Garu will be inaugurating the new facility of @THubHyd on 28th June giving a huge fillip to the Hyderabad Innovation ecosystem (sic),” Telangana IT Minister K T Rama Rao had tweeted ahead of the inauguration.
The new facility takes cues from T-Hub (Technology Hub), an incubation center launched in 2015 in Hyderabad. The center was launched in a partnership between the Telangana government and the International Institute of Information Technology-Hyderabad (IIIT-H), the Indian School of Business (ISB), and the National Academy of Legal Studies Research (NALSAR).
The first T-Hub was launched on the campus of the Indian Institute of Technology, Hyderabad, under the name of Catalyst on an area of 70,000 square feet.
WHAT IS T-HUB 2.0?
T-Hub 2.0 has been built at an estimated cost of Rs 276 crore in an area covering 5.82 lakh square feet and the building has been designed by a Korean company. The multi-storied building being inaugurated at Raidurg in Hitec City has been divided into 10 floors that will house different centers to promote an innovation ecosystem.
The new facility is on its way to becoming the world’s largest innovation campus.
While one of the floors will be dedicated solely to venture capitalists, other floors will house a state innovation cell to promote rural talent, a center of excellence in cyber security, a center for innovation and entrepreneurship, along with representation from the Dept of Science and Technology, Atal Innovative Mission on Artificial Intelligence.
T-Hub 2.0 will focus on Incubation and acceleration while also providing support to startups, giving mentorship, and bringing in a global pool of experts. T-Hub has supported nearly 1100 startups since 2015 and raised 10,000 crores through funding. 215 startup companies will be shifting their base of operations from the old building to T-Hub 2.0.
The inauguration on Tuesday will be attended by 25 unicorns from the country along with 30 venture capitalists. The government has indicated that in the coming time, the T-Hub will have five regional centers spread out in Warangal, Khammam, Nizamabad Kareemnagar, and Mahbubnagar.