HYDERABAD: T-HUB, the State’s startup engine, announced the selection of 45 startups for the second edition of its incubation programme, Lab 32, on Friday.These startups were shortlisted after the screening of more than 500 applications from across the country. Most of them have already begun generating revenue, validated their product, and are at a ‘higher level’ of their startup journey, as described by the officials of T-Hub.
T-Hub officials reasoned that there was a lack of incubators for advanced startups, with most incubators catering to beginners. Lab 32, with its combination of resources and mentors, would address the problem of scaling and help push these startups to their full-potential.
Of the 45 selected for the Lab 32 program, 95 per cent are from Hyderabad, despite the pan-Indian selection process. Ravi Narayan, CEO of T-Hub, attributes the trend to the richness of the startup culture in Hyderabad.
Over 70 per cent of the startups are less than three years old and 82 per cent of them generate revenue. As for the kind of services they would be catering to, 24 per cent of them deal with education technology, also known as EdTech, 13 per cent are into Core Tech — responsible for managing IT systems resources — and 11 per cent would help in building smart cities.