Hyderabad: Information Technology Minister K. Tarakarama Rao said that the State Government would implement the Policy of Start-up and Stand -up India to set up multiple Incubators etc in Telangana State.
In his reply to the question raised by MLCs D.Rajeshwar Rao and Sabavat Ramulu Naik in Legislative Council during Question Hour, the minister informed that there were 35 incubators and co-working spaces in the State.
The T-Hub and recently launched We-Hub have been set up by the government directly while the remaining incubators are set up by universities, research institutions and private companies. All the entrepreneurs who are involved in startup activities in an incubator/ co-working space are recommended to VC firms and angel investors for funding support.
The minister said that banks were not involved in Startup India Programme. However, Each bank branch has to support a minimum of two cases every year from SC/ST/Women Entrepreneurs under the Stand Up India Programme.
Of the 4,804 bank branches in Telangana, 778 branches have so far sanctioned Rs.698.66 Crores loans under the Stand Up India Programme, he informed. (INN)