Tech startups to raise Rs 1,200 crore for Hyderabad’s Hyderabad Technology Hub (HTHQ)
Tech startups, particularly in India, are often hailed as a game-changer, a source of investment for startups, but with the number of startups currently on the rise, there is much more to be done to promote growth and ensure a vibrant ecosystem.
Tech startups have also been hailed as the “game changer”, and many are looking for new ventures, especially in Hyderabad, which is one of the fastest-growing cities in the country.
To that end, the city has recently seen a series of startups incubating at HTHQ, a venture capital hub for startups in Hyderabadi district.
The Hyderabad Development Authority (HDA) has been tasked with helping the tech startups get started in the city, which was initially launched in 2013.
The government has been making efforts to get the tech sector to the forefront of the city’s development agenda, particularly around infrastructure, urban development, and public spaces.
The tech startups that have been incubated at HTSAQ have also set up their own incubator in Hyderabal, a city of around 3.5 million people.
“We are very excited about the new initiatives and the participation of these startups, especially the ones that are from Hyderabad.
We are very impressed with the enthusiasm shown by these startups,” HDA’s secretary, G.V.R. Bhatia, said.
HTSAq is also seeking startup funds from private entities and private companies to incubate its new startups.
“We are actively trying to attract private funding, and if we can attract venture capital, then we will definitely try to bring the startups here,” he said.
Bhatia said that the incubator will also be open to the public, but that they need to submit a certain amount of cash in order to be eligible for incubation.
“It is very important for us to attract venture capitalists to the city.
We need to attract capital in the form of seed funding from private investors to ensure that these startups can get off the ground,” he added.
Tech startups are usually incubated in partnership with the city government.
They are allowed to stay in the hub for up to three months, but only for a limited number of days.
They will be asked to put up their applications at HTIAQ to be considered.
There will also also be a two-day incubation for tech startups at HTDAQ.
“For the first two days, they will be able to stay for up, but if they need more time, they can stay for one more day,” Bhatias said.
The first batch of incubators will be given time to incubated three startups each.
The HTDA also has a incubation hub for young professionals in the state.
In 2017, there were over 2,400 young professionals registered in the region, according to the IT department of the Hyderabad Metropolitan Region Development Authority.