Hyderabad to establish India's largest incubation hub

India's largest incubation centre is to be established in Hyderabad by towards the end of the year or early next year.

The Telangana government are developing the centre, collaborating with Indian School of Business (ISB), International Institute of Information Technology (IIIT) Hyderabad and NALSAR University of Law.

T-Hub, the name given to the new incubation centre, is being developed at IIIT campus. The facility will span over 80,000 square feet, accommodating 400 start-ups. The first phase is scheduled to be ready towards the end of the year or between January and February next year with this phase itself being India's largest incubation hub.

The minister explained ISB will provide business mentoring, as IIIT will provide technology mentoring and NALSAR will aid in intellectual property and related areas.

On the announcement of the 'The August Fest', the country's largest seed fund event, the minister revealed the second phase will be a standalone facility. With three lakh square feet areas, it will have the capacity to quarter 1,500 companies.

It is intended that all start-up programmes will be brought together under one roof. This is as the proposed hub will ensure support services, infrastructure and funds for the start-ups.

It is hoped this new incubation centre will provide a platform to the youth with innovative ideas, without issues of accounting, legal, office space management, funding and mentoring support.

With the vision to establish Hyderabad as a start-up capital, the government intends to attract angel investors and venture capitalists towards Hyderabad by investment meets.

In the lead up to the T-Hub, the city will host 'The August Fest' on the weekend of August 30th and 31st ISB.

Billed as the largest ever start-up festival revolving creativity and entrepreneurship, the second edition is forecasted to attract 1,500 start-ups and over 100 investors, VCs, plus others from throughout India.

According to the minister, 100 start-ups would pitch for funding and 25 would receive instant funding at the unique event, bringing IIIT, TiE Hyderabad, Hyderabad Software Exporters Association (HYSEA) and NASSCOM onto one platform.

With pitches, instant funding, talks, fashion, films and music, the event is said to be an unforgettable experience for attendants, according to Suresh Perugu of Eat, Sleep, Drink (ESD) Startups, a non-profit organization, who came up with the idea of 'The August Fest' last year, in an attempt to aid start-ups.

The first edition last year received 500 start-ups. This year, many organisations and the Telangana government have come forward to support the event.