Tata Sons Chairman Emeritus Ratan Tata will formally inaugurate the first phase of T-Hub, the much talked about start-up incubator here later today.
The first phase, christened Catalyst, is located at the International Institute for Information Technology (IIIT-Hyderabad) at Gachibowli. Coming up in 70,000 sq ft built-up area, the facility offers physical and virtual infrastructure at a fee.
Being taken up by the Telangana Government, the T-Hub project is joined by the Indian School of Business (ISB), the National Law University Nalsar and IIIT-H. The three academic institutes would provide mentorship in their respective areas of competence.
About 140 start-ups would initially be housed at the Catalyst building, with each start-up getting a time of six months to stay. Some of them would get another six months of grace period, if need be. After they move out of the facility to let a fresh set of start-ups to move in, the start-ups would continue to get support.
“We are not going to interfere in the functioning of T-Hub. We will let it function independently with a board comprising top notch industrialists and entrepreneurs guiding it. It is not just another start-up incubator. It is going to be an incubator of incubators when the second phase is completed,” Telangana IT Minister K T Rama Rao told BusinessLine, ahead of the inauguration.
The Government is also mobilising support to set up an exclusive PE fund to infuse funds into the start-ups incubated there.
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.
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