Nasscom on Monday said it has partnered with the Telangana government and other entities to create a “startup warehouse” here that will provide an affordable co-working space to the young entrepreneurs.
T-Hub Nasscom Startup Warehouse would take care of young entrepreneurs’ concerns of building right product in the market and give them a platform to emerge as stronger players, said Nasscom chairman B.V.R. Mohan Reddy in a statement.
T-Hub is a public private partnership (PPP) between Telangana government and Indian School of Business (ISB), International Institute of Information Technology-Hyderabad (IIIT-H) and National Academy of Legal Studies and Research (Nalsar) along with other private sector leaders.
Aiming to create a micro ecosystem where startups and entrepreneurs can work together and share experiences, ‘Nasscom 10,000 Startups’ is setting up ‘warehouses’ across Indian states.
The first startup warehouse was set up in Bengaluru in 2013, followed Kolkata, Navi Mumbai, Pune, Kochi, and Gurgaon.
“Nasscom 10,000 startup programme is now looking to launch this facility in other emerging cities in partnership with their respective governments,” said the Nasscom statement.
Bengaluru warehouse has recently been expanded from 10,000 sq ft to 40,000 sq ft in keeping up with the response the warehouse elicited from budding entrepreneurs.
According to Nasscom report ‘Start-up India – Momentous Rise of the Indian Start-up Ecosystem’, Hyderabad is one of the emerging cities.
T-Hub in collaboration with ISB, NALSAR and IIIT-H announced a $100 million (roughly Rs. 676 crores) venture capital fund, the statement said.
Telangana IT and Panchayat Raj Minister T. Rama Rao also attended the inauguration.