A HyperCat accelerator and incubation centre for start-ups working in the Internet of Things (IoT) space that opened in the city on Wednesday will call for interest from prospective occupants in a week.
Space at the centre, to be made available at no fee, is for start-ups from across the country working in the IoT sphere, managing director of Flexeye India Srinivas Chilukuri said, adding the facility can accommodate 40 start-ups. Within IoT, the emphasis is on work oriented towards smart city components. The selected start-ups will be provided mentoring and depending on the progress they make, access to seed funding.
The UK-based Flexeye, which leads a consortium of international businesses behind the UK-government supported HyperCat, is behind the new facility in Hyderabad. This is the first such HyperCat facility outside of the UK, Flexeye chairman and CEO Justin Anderson said, adding Indian IT companies would also be associated with the programme.
They were speaking to presspersons at the inauguration of the incubator facility by British Deputy High Commissioner Andrew McAllister.
HyperCat, a not-for-profit organisation, sets the standard driving secure and interoperable IoT for industry.
Backing the HyperCat’s office in London among others were Innovate UK, the Mayor of London’s office and a host of leading firms, including BT, Cisco and Symantec.
Noting that the initiative follows Prime Minister Narendra Modi’s visit to the UK, Mr. McAllister described the centre as a “fabulous facility” in a city with strong pedigree in ICT. Referring to technology as a key growth area, he added that the Telangana government has also initiated measures for growth of start-ups.
To queries, Mr. Anderson said the global network behind HyperCat would also help the start-ups commercialise their solutions. According to Mr. Chilukuri, a start-up gets access to the space at the centre for 3-4 months.
