The Telangana State Innovation Cell that will nurture and enable the early stage start-up ecosystem, from seeding new start-ups to nurturing them to market (angel stage), commenced operations on Wednesday.
Immediate focus
It will be the single window for administering all incentives announced in the State’s Innovation policy for start-ups and Incubators. The immediate focus will be to document, network and amplify the early stage support ecosystem, IT Minister K.T.Rama Rao said in a press release. The SIC is currently located at IIIT-Hyderabad and led in the interim by Ramesh Loganathan, Professor Co-Innovation. The release said specifically, an initiative has been started, to work, to network all the co-working spaces and through shared joint support enable them to be as effective as incubators. Through these co-working spaces, the early stage start-ups will be provided business/strategy mentoring, market connection and investor access. The idea is to direct all early stage start-ups applying to T-Hub to a participating, qualified co-working space and through the space enable them to grow to initial market traction and be ready for angel stage support offered by incubators such as T-Hub.
The SIC forms part of the State’s innovation policy. The specific shared support offered to the start-ups would be in the form of operational support (banking, legal, accounting), technological (platform sharing, credits) startup boot camps (accelerator mode short workshops), start up support for mentoring/industry/investment and a single window for all state incentives, the release said.
