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TS ensursing funding support to startups

Telangana based start-ups will avail early stage funding with the Government’s plan to set up a specific fund for growth stage start-up, Jayesh Ranjan, Principal Secretary (ITE &C) has said.

TS ensursing funding support to startups
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TS ensursing funding support to startups

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Hyderabad: Telangana based start-ups will avail early stage funding with the Government's plan to set up a specific fund for growth stage start-up, Jayesh Ranjan, Principal Secretary (ITE &C) has said. As many as 13 Hyderabad based tech startups out of 26 incubated were part of an interaction session arranged at WE Hub with Jayesh Ranjan, here recently. Jayesh is also on the Board of WE Hub.

The tech startups and the entrepreneurs were guided on receiving government's assistance during their transition process from a startup to an SME.

"With the goal of promoting innovation and entrepreneurship for women, the State government has established WE HUB. We are proud to see the progress the institution has made and very happy to meet the diverse batch of start-ups at WE Hub, said Jayesh.

WE Hub, is India's first and only state-led incubator by the Telangana government to foster and promote women entrepreneurship to start up, scale up and accelerate with global market access.

WE Hub's 26 startups, which are part of the second cohort of incubation are from across 15 cities in India. In the past 5 months of virtual incubation, startups have seen progress through various interventions along with raising funds in this adverse situation.

The start-ups were encouraged to take numerous benefits of being incubated at a government led incubator like WE Hub and were guided on support mechanisms for manufacturing benefits from government to convert startups to SME. The startups enjoy benefits such as, 1. Preferential procurement access for services and products of homegrown startups, relevant to the government without going through the cumbersome procurement policy of bidding and tenders; 2. Access to government mentorship and support by officials Telangana based startups to receive early stage funding support.

The 13 startups are : Pillplus, Future step, YuGenie, Dusk Miller, Bleü, Wudbox, Bolt Coffee, Designocare, Heamac, Forward Parcel, Architude, Startoon Labs, and Macromoney Research

Deepthi Ravula, CEO, WE HUB, said, "We are happy to continue our flagship incubation program virtually even during these critical times. As we start moving to a blended module, we wanted to showcase the prototypes of our startups and highlight the many ways WE Hub enables growth of startups through government ecosystems and policies''

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