At the International Startup Festival, IT Minister D. Sridhar Babu outlined a compelling vision for fostering innovation and entrepreneurship in Telangana, particularly in the agriculture and mechanical sectors. Speaking passionately, he emphasized the importance of collaboration between the state and startups to propel them into global markets.
Minister Babu began his address by acknowledging the diverse presence of startups at the festival. He remarked on the need to leverage this diversity: “How do we leverage? How do we really engulf all of them and partner with them?” He underscored the government’s commitment to creating a supportive environment that nurtures these emerging businesses, aiming to establish Telangana as a hub for innovation.
The minister highlighted the potential for startups to evolve into global players, saying, “This is where our government would like to strengthen them.” His vision encompasses a future where local startups can compete on the world stage, producing Junicorns and driving regional economic growth. Drawing a comparison with other states, he noted, “If a state can produce about 40 or 50 unicorns, it can propel the state economy to the next level.”
Babu also announced ambitious plans for developing a global AI city in Hyderabad, expressing a desire to integrate expertise from successful CEOs and innovators present at the festival. “We have to fuse their thoughts and expertise into our dreams,” he stated, indicating that collaboration is key to realizing this vision. The proposed AI city aims to position Telangana as a center for cutting-edge technologies, particularly in AI, cybersecurity, and data analytics.
To achieve these goals, Minister Babu called for a collective effort from both the government and the private sector. He emphasized the importance of innovation centers and support systems that facilitate startup growth: “We have lots of centers which would like to give impetus to innovation.” The minister assured attendees that the government would provide all necessary resources and create a conducive environment for entrepreneurs.
Babu’s vision is not only focused on technological advancement but also on creating a vibrant ecosystem that encourages young talent. “We appeal to all the young guys who have the best of the grey matter to produce the best of their products,” he urged. This call to action resonated with many in the audience, emphasizing the role of youth in driving Telangana’s economic future.
The minister concluded his address by congratulating the festival organizers and expressing gratitude to all participants. He reaffirmed the government’s dedication to transforming Telangana into the capital for tomorrow’s disruptive technologies, encouraging all stakeholders to contribute to this transformative journey.
Overall, Sridhar Babu’s address at the International Startup Festival was a powerful reminder of the potential within Telangana’s startup ecosystem and the collaborative efforts needed to unlock it. His commitment to fostering innovation and supporting young entrepreneurs sets a promising tone for the future of the state’s economy.
