At the valedictory ceremony of ISBACON 2024, Telangana’s former IT Minister, K.T. Rama Rao (KTR),
underscored that India’s young startup ecosystem requires not just financial capital but “adventure capital”—where investors are willing to take bold risks and back novel ideas.
While addressing the meeting, the former IT Minister highlighted India’s burgeoning innovation landscape, the vital role of startups, and Telangana’s growing prominence as a hub for technology and entrepreneurship. Held in Hyderabad, the three-day event attracted over 250 delegates representing incubators from across India, making it one of the largest gatherings of the country’s startup ecosystem.
KTR shared his pride in the historical and cultural richness of the twin cities of Hyderabad and Secunderabad while also celebrating the vibrancy infused by the modern startup ecosystem. Describing Hyderabad as “the most beautiful city in India,” he emphasized its dynamic environment, home to iconic innovation epicentres such as T-Hub and T-Works, which have become synonymous with cutting-edge technology in India.
Reflecting on the significance of ISBACON returning to Hyderabad after 17 years, KTR praised the Indian STEP and Business Incubator Association (ISBA) for its efforts in fostering a diverse and inclusive innovation environment. He acknowledged the challenge of creating cohesion in a country as culturally diverse as India, where language and traditions vary significantly across regions. He commended the conference organizers for building a platform where innovators from different backgrounds could collaborate and learn from one another, avoiding the need to “reinvent the wheel.”
In a reflective moment, KTR spoke about the evolution of the word “initiative.” Once associated with hesitation, it now symbolizes leadership and opportunity, especially in the startup world. He emphasized that taking the initiative is now celebrated as the first crucial step toward generating groundbreaking ideas, highlighting the shift in mindset both in India and globally.
Drawing from a past speech by Dr. R.A. Mashelkar, KTR underscored the need for India to “pole vault” rather than merely “leapfrog” in the race for innovation. He stressed that India’s young startup ecosystem requires not just financial capital but also “adventure capital”—investors willing to take bold risks and back novel ideas.
A core theme of KTR’s speech was the difference between innovation in India and global hubs like the U.S., where he had spent several years. While India excels in innovation, he noted, it lags in the ability to pitch and market its ideas effectively. He encouraged Indian startups to learn from American entrepreneurs, who excel at presenting even small innovations in compelling ways. “Clarity of thought is important,” he said, “but clarity of expression is far more crucial for a startup or an innovator.”
Turning his focus to Telangana’s journey, KTR recounted a story close to his heart from the early days of Telangana’s formation in 2014. Shortly after being sworn in as a minister, he visited institutions like IIIT -Hyderabad and the Indian School of Business (ISB) to explore how Telangana could establish itself as a “startup state.” This realization led to the creation of T-Hub, now one of India’s largest startup incubators.
KTR also fondly remembered his interactions with the late Ratan Tata, whom he insisted should inaugurate T-Hub in 2015. Describing Tata as a symbol of the change he envisioned for India, KTR praised Tata’s continued involvement in the startup ecosystem, even in his later years. Tata’s perseverance and willingness to invest in new ventures reflected the spirit of innovation that KTR sought to foster in Telangana.
As he concluded his speech, KTR reiterated the importance of fostering innovation at both local and global levels. He highlighted Telangana’s achievements over the past decade, noting that the state’s efforts to build a vibrant startup ecosystem have firmly placed it on the map as a key player in India’s innovation landscape.
ISBACON 2024 not only celebrated the accomplishments of India’s incubators but also issued a call for greater collaboration, risk-taking, and a unified vision for innovation. With initiatives like T-Hub and T-Works, supported by business leaders, political figures, and startup enablers, Telangana is set to remain at the forefront of India’s entrepreneurial revolution.
