Hyderabad: Information Technology Minister K T Rama Rao participated in a video session with the Act Grants, an Rs. 100 crore grant, created by India’s start-up community to give wings to ideas that could combat COVID-19 with immediate impact.
Noted venture capitalist and the founder and Managing Director of Kalaari Capital, Vani Kola hosted the session. Several entrepreneurs and venture capitalists joined the session from across the country.
Act Grants is seeking capital-efficient, scalable solutions from NGOs and innovative startups which need an initial seed grant to fight the spread of the pandemic.
In his opening remarks Minister KTR welcomed this unique initiative which offers great deal of hope. He said the Indian startup community should seize the opportunities that this crisis throws up.
Minister said ever since its inception Telangana state has been betting big on innovation and has created some remarkable institutions like TSIC, T-Hub, WeHub, TWorks, RICH and TASK. Minister KTR stated that he is happy that several startups from Telangana and elsewhere are coming up with innovative solutions to combat the COVID19 pandemic.
Minister gave an overview of how the state government is partnering with both the startups and established industries to contain the Corona virus.
He said the state government is ready to extend all kinds of cooperation for startups which provide solutions for the pandemic.
Minister thanked the startup community for coming up with this initiative and hoped that many successful solutions would come out with this collaborative exercise.
T Hub CEO Ravi Narayan, IT & Industries Principal Secretary Jayesh Ranjan also participated. (INN)