Telangana government and T-Hub announce a new funding program for early stage startups
Telanganagovernment and T-Hubannounce T-Angel, a fundingprogramme for startups.
- 30 startups from the sectors of healthcare, real estate, entertainment, sports, education and finance will be selected.
- The top 10 startups from the batch will receive funding.
T-Angel will select 30 early stage startups across healthcare, real estate, entertainment, sports, education and finance. They will be put them through a three-month acceleration programme, and the top 10 startups of the batch will receive funding. With four such programmes in a year, T-Hub aims to fund 40 startups.
T-Angel is only the first in a series of funding programmes by Telangana to boost investments.
“Over the last three years, the Telangana government has been constantly building the right elements to create an ecosystem for startups that allows them to scale with speed. The quantum of funds received by startups in Telangana has grown significantly too, we now see this only increases with the quality of startups the state has gathered,” said Jayesh Ranjan, Principal Secretary Industries and IT, Telangana State.
T-Hub which is a public-private partnership runs accelerator programmes with many companies, including social media giant Facebook. Through bootcamps and workshops, T-Hub will also ensure that a startup is
Hyderabad which was formerly known for its IT sector, is also pushing for growth in innovation centers and startups. Bigwigs like Amazon, Apple, Microsoft have set-up their India offices in the city.