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Business News/ Politics / Policy/  Telangana to start T-hub with Rs10 crore interim fund on 5 November
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Telangana to start T-hub with Rs10 crore interim fund on 5 November

Separately, a group of US expats from Telangana is coming together to start a dedicated fund to invest in start-ups born out of the country's youngest state

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Hyderabad: T-Hub, the incubator being set up in Telangana, will start with an interim fund of 10 crore from the state government. Separately, a group of US expats from Telangana is coming together to start a dedicated fund to invest in start-ups born out of the country’s youngest state.

Three Silicon Valley-based executives—Krishna Kolluri, a general partner at venture capital firm New Enterprise Associates, Keerti Melkote, co-founder and chief technology officer of Aruba Networks Inc., and Raju Reddy, who sold offshore enterprise application developer Sierra Atlantic Software Services Ltd. to Hitachi Consulting in 2011—discussed the proposal with Telangana information technology (IT) minister K.T. Rama Rao late on Thursday.

The plans are at an initial stage and it will take some time to arrive at the fund size, Telangana IT secretary Jayesh Ranjan said on Friday. The three executives plan to rope in other US-based expats with Hyderabad roots to back the fund.

Ranjan and Rama Rao will discuss the proposal with Adobe Systems Inc. chief executive Shantanu Narayen when he visits Hyderabad on 20 October. Microsoft Corp. CEO Satya Nadella is also expected to be part of the venture.

At the same time, the state government will invest from the 10 crore interim fund in T-Hub start-ups that reach a “commercialization" stage. It will be “selective" on what start-ups to support, Ranjan said.

T-hub will commence operations with 200 start-ups on 5 November. It will be inaugurated by Ratan Tata, chairman emeritus of Tata Sons who’s turned a serial investor.

The incubator, billed as the country’s largest, has received 400 applications so far, with about 5-10 new applications coming in every day. A committee is evaluating the potential of the early-stage start-ups that have applied to be part of the incubator.

Preference will be given to tech start-ups that have a “large social impact", Ranjan said.

“We don’t want to artificially fill it up," said Ranjan. T-hub has a capacity to accommodate around 400 early-stage start-ups with 4-5 employees. About 10 start-ups have already moved in.

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Published: 17 Oct 2015, 12:28 AM IST
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