'T Hub' to encourage startups set to launch tomorrow

Hyderabad: In a bid to encourage startups by zealous IT professionals, Telangana government would set up a center, T Hub, in the city which would be set rolling by the Information Technology minister KT Rama Rao on January 23.

According to the information provided by the IT department officials, the center would come up in 85,000 sq ft of area in the IIIT campus in the first phase. In the second phase, three lakh sq ft more area would be added.

'It may be possible next Facebook or next WhatsApp may take birth in T Hub. Now it is the time of startups all over the world. Bangalore is leading the nation in this regard.

Officials said that T Hub would be launched, tentatively, on June 2, the first anniversary of formation of Telangana state. They said that objective of the government was to encourage economic growth of the State as well as creation of employment.

A senior official of the department said, 'It may be possible next Facebook or next WhatsApp may take birth in T Hub. Now it is the time of startups all over the world. Bangalore is leading the nation in this regard. We want that Hyderabad shall not lag behind.' The official said that T Hub would be the largest IT incubation center in the country.

Government is of the view that just depending on arrival of big companies alone would not help in the growth of IT industry in the State. It would be better to tap the potentiality of startups as popular companies like Whatsapp and Facebook started as such minnows in the beginning.

The T Hub would be an incubator center for the startups of IT professionals of the country. Anyone with an innovative idea could come and set up their organization in it. Mentors would examine the proposals of the professionals and based on merit would permit them.

This project is being sponsored by ISB, IIIT and NALSAR and would provide office space and other paraphernalia for the startups. They would be helped to implement their idea, getting the funding and achieving success.

Recently IT minister KT Rama Rao met Union Science and Technology minister Sujana Chowdary and put forward the proposal and sought the cooperation of the Centre. T Hub would be a meeting place for seed capitalists, venture capitalists and mentors and it would provide an amiable atmosphere for the startups.

The mentors would be drawn from noted IT firms. They would examine the proposals at the weekend and would clear viable proposals. This center would help in incorporating a company, clearing the intellectual property rights issues and having office space and other essentials to kick start the startup.