HYDERABAD: T-Hub has announced a strategic partnership with Hindustan Aeronautics Limited (HAL), one of the leading aerospace companies. This collaboration aims to support startups in the aerospace sector, and both organisations have formalised their alliance by signing an MoU for a two-year term.
This collaboration aims to support startups in the aerospace and defence composite market, which is predicted to grow at a compound annual growth rate (CAGR) of 13.1 per cent from 2021 to 2027.
To keep up with the increasing demand and stay ahead in the market, innovation is a crucial component of growth. The partnership between T-Hub and HAL will offer industry expertise, resources, and access to markets, providing startups with the necessary tools to develop and scale their technologies.
HAL will assist startups in building Proof of Concepts (PoC), giving them the opportunity to gain valuable industry expertise and support to bring their ideas to fruition. Meanwhile, T-Hub will provide access to a diverse network of startups with expertise in niche technological areas, as well as mentorship, training, and support services to help startups succeed.
HAL has instituted a funding mechanism wherein 2 per cent of the operating profit after tax is exclusively earmarked for startup engagement. As part of its efforts towards the Government of India’s Atmanirbhar campaign, HAL is also focusing on research and development, indigenisation, and startup corpus.
The partnership with T-Hub is a positive step towards leveraging the strengths of established companies and startup ecosystems to drive innovation and accelerate development in niche technological areas.
Till date, T-Hub has impacted more than 2,000 companies through a variety of programmes and initiatives.