Plan T – Here’s How India’s Newest State Plans to Nurture the Startup Ecosystem
Telangana has been basking under the glory of several startup activities and the rise of MNCs storming into the state. The state’s gigantic startup incubation centre T-Hub boasts of facilities and space given to entrepreneurs to nurture their companies under the vigilance of government support.
Secretary-Information & Communications Technology (ITC) of Telangana Jayesh Ranjan spoke to Entrepreneur India last month on the occasion of Entrepreneur India Summit 2016 and spoke about the growing competition between Bangalore and Hyderabad in becoming the ultimate startup epicentre.
Bangalore versus Hyderabad
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On being questioned about what his state offers enterprises, Ranjan said, “Telangana is the newest state in the country and we take a lot of pride in calling ourselves the startup state. We have come up with the startup policy, innovation policy and created the largest technology incubator in the country called the T-Hub and we are continuously trying to bring a very comprehensive ecosystem for the startups in a very meticulous way.”
However, Ranjan also admitted to the fact that Bangalore had the upper hand because of the legacy in the startup, and IT space over other cities. “The challenge that we are mounting from Hyderabad is very strong and the city has become the go-to destination for all technology companies. The top four most valued companies of the world have their largest presence outside U.S. headquarters in Hyderabad. A single city having the presence of four topmost companies in the world is a unique distinction. The ecosystem with a large number of academic institutions and the VC community is keenly looking at companies based out of Hyderabad. Added to that the kind of government support we provide is coming together in a very seamless fashion,” he added.
Ranjan further went on to say that even though Bangalore will retain its edge over other states, he is confident of the fact that with all the above mentioned efforts coming into place, Hyderabad will very soon become the go to destination for startups.
How does the state plan to bring smaller companies onboard
Ranjan said that the state is already providing all kinds of support in the form of high-quality infrastructure. He further clarified that space at the T-Hub incubation centre is provided at almost free of cost to smaller startups. “One very important facility that we provide startups is that we have taken a very bold decision that if the product or service which the startup offers is of relevance to the government, we are ready to become their first customer.
Typically if you want to run through government procurement, it turns out to be a very lengthy process in which startups and small companies stand a very low chance of qualifying. Startups, being early stage companies, have little track record to show. We have taken the decision to bilaterally evaluate their product and become their first customer and create their first sort of market for them,” he said.
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Plan T – Here’s How India’s Newest State Plans to Nurture the Startup Ecosystem. (2018, Jul 18). Retrieved from https://phdessay.com/plan-t-heres-how-indias-newest-state-plans-to-nurture-the-startup-ecosystem/
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