Hyderabad: Information Technology Minister K. Tarakarama Rao declared that Telangana State was no longer a startup stage.
Delivering the keynote address in the August Fest, the Asia’s Largest Startup Conference, on Saturday morning, KTR said that Telangana was now a scacleup state.
He listed our various initiatives, State Government has taken up besides T-Hub to create a conducive eco-system to help starups grow in the State. He talked about Kakatiya Sandbox, a rural incubator in Nizamabad.
Inspired by the Deshpande Foundation’s Hubli Sandbox, Raju Reddy (Sierra Atlantic) and Phanindra Sama (redbus.in) are supporting the Kakatiya Sandbox initiative to empower the districts of Nizamabad, Karimnagar and Medak in the state of Telangana he informed.
KTR also informed that T-Hub will start its Chapter in Silicon Valley, the home to many start-up and global technology companies.
Talking about valuations some companies have received, the minister said that the kind of valuation What’s up got, it wouldn’t have been the same, had it been here. So you have to be at right place in right time he said. The Idea has to be vetted by right kind of people.
Speaking about the Research he said, in western countries the research is university based. We need to learn from the West. Telangana Government is planning to set up Research and innovation circle of Hyderabad (RICH. The government is looking at Commercialisation of Research.
The capital of Telangana is home to some of the 30 plus best research institutions such as CSIR, NIRD, IICT.
The August Fest is organised by Eat, Sleep and Drink (ESD) Startup floated by Kiran Maverick, Aadi, Subash and others.
To mark the inauguration of the festival, a Panel Discussion “What it takes to build success stories from Hyderabad” was held. IT Secretary Jayesh Ranajan moderated the discussion.
The panellists of the discussion included KTR, redBus.in – NextGen PMS Pvt. Ltd Co-Founder Phanindra Sama and Martjack CEO Abhay Deshpande who scripted a success story inspite of being rejected 100 times of Venture Capitalists.
Participating in the Panel Discussion moderated by Jayesh Ranjan, Phani Sama said RedBus is right now has presence in five countries. And it is the world’s largest bus ticketing company. (INN)