Hyderabad: Innovative ecosystem builder T-Hub on Tuesday announced the launch of the fifth edition of its flagship pre-gear program, Lab32, by boarding 30 startups. The start-ups will be consulted by leading experts on business objectives such as revenue growth, customer acquisition, market expansion and product chart.
The program runs until June 2021 and will continue with its hybrid model, which was launched last year due to the pandemic. Startups from different cities are part of the program, along with startups from rural innovation space with social impact. The selected start-ups offer solutions in industries such as media, SaaS, healthtech, e-commerce, drones, social commerce, blockchain, agritech, rural commerce, robotics, IT, foodtech, mobility and adtech.
Ravi Narayan, CEO of T-Hub, said: ‘Lab32, the accelerator program, aims to prepare new businesses for rapid investment-ready growth. Most of our alumni have contributed to the economy of our country by successfully expanding their business to global locations. We are confident that selected startups from different sectors will make significant contributions to the economy and society. ”
More than 300 start-up companies have applied for this group, and the same has been evaluated by T-Hub’s new innovation team. The start-ups were further shortlisted through one-on-one connectivity, with T-Hub interviewing the program. The startup was chosen based on the technological component of the startup, their market readiness and the maturity of founders with a clear business plan.
In the first month of the Lab32 program, T-Hub will conduct a pre-program assessment to understand the startup requirements in detail, followed by consultant connections. The startup will then undergo rigorous training and consultation sessions by professional trainers, advisors and subject matter experts, based on the needs of the startup. Ultimately, the program will assess the progress made by each of the startups based on the goals set at the beginning of the program. Thirteen companies of the fourth group graduated in February 2021 and showed interest from investors and companies during the takeoff.
Jayesh Ranjan, general secretary of Telangana’s IT division, said: ‘It’s good to see the Lab32 program progressing successfully to the fifth group. The program is still a support system for beginners in the early stages, not only in Telangana but also in India. ”
Source: Telangana Today