Despite the fact that Telangana joined the startup party late, it was still able to transform the ecosystem in the previous 8 years and the startups in the state account for around 15-20%of India’s overall startup population. There are more than 6,660 startups registered in the state and they have raised funds to an amount of Rs 10,950 crore by 2020.
There are 356 seed-funded startups, 148 venture-funded startups and the state is home to over 57 incubators and accelerators, both government-supported and privately-held. Telangana has a strong support system for the startups, from incubators that purely support women-led businesses like the WE Hub to incubators supporting agriculture-oriented startups like the AgHub.
With the help of technology and research professionals, Telangana was one of the first states to launch the Innovation Policy in 2016 which focused on boosting innovation and entrepreneurship by leveraging upon its natural geographical assets. Telangana State Innovation Cell was established in 2017 to erect and improve the culture of innovation in the state, under the mandate of the innovation policy.
The CEO of T-Hub, M Srinivasa Rao said, “The startup ecosystem of the state has set tremendous strides and sprouted well through its ‘Start local, dream global’ policy. The state’s remarkable infrastructure and sound regulation have created a haven for the innovation stakeholders and the directorate’s push towards making Hyderabad the entrepreneurial capital of India is escalating the status of the state as the young and rising state in the startup ecosystem.”
WE Hub has been concentrating on making every enterprise worthwhile. About 95% of the enterprises at WE Hub have worked including in Tier 2 and Tier 3 regions of Telangana are still sustaining and ascending.