The second phase of the T-Hub, the country's largest incubator for startups, is expected to come up in next three years at an investment of at least Rs 150 crore, Telangana IT Minister K T Rama Rao has said.
The second phase of the T-Hub, the country's largest incubator for startups, is expected to come up in next three years at an investment of at least Rs 150 crore, Telangana IT Minister K T Rama Rao has said.
The first phase of 'T-Hub' will be inaugurated by Ratan Tata, chairman emeritus of Tata Sons, on November 5, the minister told reporters here.
"Phase 2 will be completed in less than three years.
We have put in Rs 40 crore in the present facility (phase I at IIIT campus). I would imagine it would cost Rs 150 crore to put up the physical space," he said, adding the phase-II will be spread over an area of 300,000 sq ft.
On the investment model, Rao said, "We are looking at multiple models. We are looking at the Centre's support. We are also thinking of PPP models for that." The minister, son of Telangana Chief Minister K Chandrasekhar Rao, further informed that his government is in discussions with MIT (Massachusetts Institute of Technology) Media Labs and University of Texas (Huston) for their support for the T-Hub.
ALSO READ: All you need to know about Telangana's start-up ecosystem T-hub
According to him, the initial fund size for the project would be Rs 10 crore and eventually scaled up to $100 million (nearly Rs 654.9 crore)
The startup incubator has already tied up with 20 venture capitalists.
T-Hub, an initiative of the Telangana government, is a technology incubator with collaborative efforts from the Indian School of Business (ISB), the International Institute of Information Technology (IIIT-Hyderabad) and NALSAR University of Law, besides various other organisations.
A senior official of the T-Hub said that the centre already has 120 startups and organisations signed up to occupy seats and cabins and another 200 are in the pipeline.
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