T-Hub phase-II to be ready by March, incubate 1,000 startups

HYDERABAD: Information technology and industries minister KT Rama Rao on Monday informed the state assembly during question hour that the phase-II of T-Hub project will be operational by March 2020.
It will incubate more than 1,000 startups and will be the world’s largest startup incubator with 3.5 lakh square feet of space that can accommodate 4,000 people.
The minister said that T-Hub had won accolades from Niti Aayog and experts committee of the Reserve Bank of India (RBI) and that both Niti Aayog and the RBI panel had recommended other states in the country to replicate Telangana’s startup policy.
Stating that the state government was buoyed by the success of T-Hub, it has decided to create T-Hub Phase-II at a cost of Rs 276 crore over 3 acres of land in Raidurg area. He said that the government has established 55 incubators and co-working spaces in the state in the last few years and added that about 2,000 startups are functioning in the state at present. “While companies such as Facebook, Boeing and BDL were working with T-Hub on various innovative projects, several states including Goa, Delhi and Assam entered into an understanding with T-Hub to set up startup incubators in their respective states,” KTR said.
Further, the state government has set the process to promote IT eco-system in tier-II cities in motion. An IT hub at a cost of Rs 33 crore would be established in Karimnagar in October and similar IT hubs would soon come up in Khammam, Nizamabad, Warangal and Mahabubnagar in November and December.
On the success of startups in T-Hub, the minister said that since it is an experimental platform, there was no question for failure. “Celebration of failure is also important. Even if a startup fails, the T-Hub gives the entrepreneurs an entrepreneurship certificate for their effort,” he said.