HYDERABAD: Billed as the world’s largest campus for startups, the T-Hub 2.0 which has come up in Madhapur here was inaugurated by Chief Minister K Chandrasekhar Rao on Tuesday, making Hyderabad the best innovation ecosystem in India. The 10-storey innovation facility has been built on an area of 18 acres at a cost of about Rs 400 crore. It can house 4,000 startups.
After the formal inauguration, the Chief Minister said: “I want Telangana to be known as the startup State of India. Already, Hyderabad is offering the best standard of living. Now the State’s startups are providing valuable collaboration to IT, life sciences, aerospace, defence and automotive sectors including electric vehicles.”
The Chief Minister, outlining the features of the State’s startup ecosystem, said: “It is valued as one among the top 10 global ecosystems in affordable talent. It is among the top 15 startup ecosystems across Asia in attracting funds. In 2021, the startup ecosystem of Telangana was valued at $4.8 billion.”
Describing the importance of startups, Rao said that many of them have also created products and solutions relevant to social sectors like education, health, agriculture, sanitation and the environment. “All this has been made possible due to the very progressive policies in our State like TS-iPASS, TS-bPASS, and Telangana’s startup and innovation policy,” Rao said.
“Today, I can proudly say we have created a world-class entity at T-Hub to promote entrepreneurship and innovation. Our state’s startup policy is progressive. It has helped forge fruitful partnerships with both corporates and the academia. Around the fulcrum of T-Hub, we promoted sister institutions to support different requirements of an entrepreneur. Today, all of these institutions also, namely We-Hub, T-Works, TSIC, RICH and TASK have become champions in their own right,” he added.
Those who took part in the inaugural included IT and Industries Minister K T Rama Rao, MP G Ranjith Reddy, principal secretary for IT and Industries Jayesh Ranjan and Cyient founder and T-Hub Chairman BVR Mohan Reddy.