Telangana Government is supporting the start-up ecosystem through various initiatives, said Telangan IT secretary Dr. Jayesh Ranjan in a conference organized by CII Telangana in Hyderabad on March 16.
Speaking in the annual meeting on “Telangana Moving Forward through Innovation and Entrepreneurship”, Dr. Ranjan remarked that Telangana has become a role model state for entrepreneurship and innovation.
“We are using Sand-box model to help develop rural entrepreneurship and the first initiative has been started in Nizamabad district as ‘Kakatiya Sand Box’, which will encourage entrepreneurial ventures by rural youth which are socially beneficial. Such initiatives are making the state, start-up capital of India”, he said.
Dr. Ranjan also mentioned that three important trends are being observed that are changing the business ecosystem – Firstly, we are able to find solutions to every problem in the world; secondly, the breakthrough innovations and technologies are primarily coming from start-ups; and thirdly, the average age of start-up entrepreneurs has been coming down with more and more young individuals joining the start-up revolution.
DRDL director Dr. Jayaraman talked about partnership between industry and defense laboratories, to work together for material development.
He mentioned that the DRDO has decided to increase indigenous content for more than 60% for defense production and to involve private sector players towards achieving this target. Such initiatives will enhance innovative entrepreneurship.
The DRDL Director opined that the defence organizations are expecting to strengthen innovation ecosystem by partnering with various industries, especially young entrepreneurs and small and medium scale companies. “Hyderabad has the potential to become the new base for defence production”, he said.