T-Hub, IFCCI tie-up for tech & innovation

Hyderabad T-Hub, a city-based business incubator on Friday announced its collaboration with the Indo-French Chamber of Commerce & Industry (IFCCI) to reinforce the dialogue of innovation and growth between India and France. This one-year agreement will act as a gateway for Indian and France-based technology-driven startups to scale globally and strengthen the robust innovation ecosystem in both countries.

In this direction a memorandum of understanding (MoU) was signed between T-Hub and IFCCI.

The MoU was signed in the presence of KT Rama Rao, minister of IT, I&C, MA and UD, government of Telangana; Jayesh Ranjan, principal secretary I&C and IT, Telangana; Sumeet Anand, president of IFCCI and founder, Indsight Growth Advisors; H E Emmanuel Lenain, Ambassador of France to India; Paul Hermelin, special representative of the French government for economic relations with India and chairman of the board of Capgemini; Srinivas Rao Mahankali, CEO, T-Hub; and Panneerselvam Madanagopal, Chief Innovation Officer of T-Hub.

The partnership presents a chance for T-Hub startups to connect with France's innovation and startup ecosystem and gain access to peers and industry experts. Srinivas Rao Mahankali, CEO, T-Hub said, "The economic ties between India and France are on an upward trajectory. However, there is still untapped potential in terms of growth areas for both nations to advance economically. Our partnership with IFCCI aims to address these challenges and opportunities that will help boost the continued growth of India-France bilateral relations."

T-Hub and IFCCI will collaborate on events and workshops to promote Indo-French partnerships in the technology and innovation sectors to bridge the gap between the French and Indian startup ecosystems.

IFCCI also launched its Hyderabad chapter at T-Hub's new facility, in the presence of Thierry Berthelot, Consul General of France in Bengaluru; Payal S Kanwar, Director General of IFCCI; and Gerard Wolf, chairman BRICS Access and chairman of the Sustainability Task Force, MEDEF International.

T-Hub and IFCCI also hosted a French business delegation that was brought by MEDEF International, which included CXOs of French and Indian companies, State officials, diplomats, policymakers, the top players in the private sectors of France and India, multilateral organisations and renowned industry experts.

Sumeet Anand, president, IFCCI and founder, Indsight Growth Advisors said, "IFCCI's new chapter in Hyderabad is to support growing French investments in Hyderabad given the strong support of the government of Telangana."

This launch follows the earlier conducted fourth edition of the Indo-French Investment Conclave in 2021. France is the ninth largest foreign investor in India, where it has more than 1,000 establishments and employs more than 3.5 lakh people. While Telangana's GSDP (Gross State Domestic Product) in 2020–21 was recorded at Rs 9.78 lakh crore, denoting a growth rate of (+) 1.35 per cent compared to the previous year, as noted in the Annual Report 20–21 of Invest Telangana.