Start-Ups in Hyderabad Expect to get $10 Million Investments

Untitled-4IT Secretary Harpreet Singh has stated that the start-up community in Hyderabad is expected to get $10 million investments, garnered as the benefit of Chief Minister’s visit to Singapore.

On the sidelines of ‘The August Fest’, Mr Singh said, “Singapore-based fund manager Ananda Ramakrishnan, who announced a million-dollar investment, had said that the companies in his country are interested in investing with the start-ups in Hyderabad.”

He continued, “However, they are skeptical about the culture relating to the clearances”.

Describing the challenges faced by the most start-ups, Mr Singh said that conceiving the idea, making a pilot project and finally moving to the execution are the majors. The government plans to support the start-ups by giving incubator support, training and help to get the seed funding.

He revealed, “Initially, the T-Hub will function in an 80,000 sft area on the IIIT-H campus. It will later shift to a new campus with 3 lakh sft near Kokaputa. ISB, IIIT-H, NALSAR have come together for the development of the incubator, while Cisco, Microsoft and other industries have expressed their interest in supporting the initiative”.

In the August Fest, creator of ‘Chhota Bheem’ Rajiv Chilka shared his success story.

Medaram Jathara

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