Telangana’s Minister KT Rama Rao envisions tech sector decentralization, rapid growth, and innovation success
Hyderabad, 7th July: As part of its commitment to fostering entrepreneurship and innovation, the Telangana government has launched the ‘Innovate Telangana’ initiative through the state-led incubator, T-Hub. This program aims to discover and accelerate promising startups from remote corners of the state, providing them with the necessary resources and support to thrive.
The official launch of Innovate Telangana took place at the second edition of the T-Innovation Summit, which was held to celebrate the first anniversary of T-Hub 2.0, the world’s largest innovation hub. The theme of the summit was ‘Gladiators of the mind,’ reflecting the spirit of resilience and determination in the startup ecosystem.
To identify promising startups, the Innovate Telangana initiative plans to cover all 33 districts of the state over a period of 120 days. Five pitching clusters have been established in Sircilla, Nirmal, Warangal, Medchal, and Gadwal, where startups will have the opportunity to present their ideas. It is estimated that more than 800 startups will participate in the district-level challenge, each aiming to solve regional, national, and global problems.
From the pool of participating startups, the top 10 will be selected to receive the opportunity to incubate at T-Hub. This incubation support will not only provide them with physical infrastructure but also connect them with valuable partners, angel investors, venture capital firms, mentors, and grant support. By offering these resources, Innovate Telangana aims to create an environment that nurtures innovation, entrepreneurship, and sustainable growth.
During the launch event, KT Rama Rao, the Minister of IT & Industries, emphasized Telangana’s success in building India’s leading innovation network within a span of just 10 years. He highlighted the state’s intention to decentralize the technology sector and extend its benefits to tier-2 and tier-3 towns following the rapid growth experienced in Hyderabad, the state’s capital. Rao stated, “Hyderabad is testimony to the power of innovation and enterprise, but we have barely scratched the surface.” He firmly believes that Hyderabad and Telangana are well-positioned for rapid growth in the years to come, thanks to stable governance and capable leadership.
Rao also showcased the remarkable achievements of Telangana, highlighting its contribution to India’s economy. Despite having a population size comparable to Malaysia and a geographical size similar to Korea, Telangana has managed to deliver impressive results. He stated, “We are less than 2.5% of India in terms of population but we contribute 5% of GDP.” This demonstrates Telangana’s remarkable progress as the most successful startup state in independent India, attributing its success to the unprecedented growth it has witnessed.
The Innovate Telangana initiative signifies the government’s commitment to nurturing a culture of innovation, entrepreneurship, and economic development. By providing startups with the necessary support and access to resources, the Telangana government hopes to tap into the vast potential of the state’s entrepreneurial ecosystem, particularly in remote areas. With T-Hub leading the way, Telangana is poised to further establish itself as a hub for innovation and startup success, making significant contributions to the growth of the Indian economy.
