Tech start-up incubator T-Hub on Wednesday said it is introducing Lab32, a cohort-based incubation and revenue-driven programme that will make an impact on 100 start-ups in the first year.
“The programme will help us solve two main challenges in the start-up ecosystem. First is the level of market understanding start-ups bring in and the second the lack of market appetite analysis for their offerings,” CEO Jay Krishnan said in a statement.
T-Hub’s goal is to promote technology-based start-ups, primarily focused on HealthTech, FinTech, Smart Cities, Transportation and Sustainability.
Starting May, the Lab32 incubation programme will entail a two-phased admission process — first phase of admission in April and the second in October every year. The eligibility criteria for start-ups is that need to be market ready, have at least one customer and be a minimum of one-member team. If any start-ups miss on the admission once, they can re-apply.
The six month-admission programme will have two functional pillars — Playbook and Startup Buddy. The former is a tool developed in-house by T-Hub’s technology team that will be used for tracking growth and supporting robust scaling of the start-ups in the market. Startup Buddy is a dedicated mentor for each start-up, every day. The start-up buddy assigned to each start-up will be either an experienced investor, venture capitalist or a C-level start-up leader, the release said.
Admission can be for physical or virtual incubation and the start-up can be based anywhere in the world and get access to Startup Buddy, Playbook, other mentors, workshops, and seminars. Existing startups at T-Hub also need to re-apply through this admission process to be a part of Lab32.
Applications are open at https://t-hub.co/incubation/ and close on April 15.
