Hyderabad steps up: To take on Bengaluru, Delhi, Mumbai to become bigger hub for entrepreneurs

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Updated: August 29, 2019 1:23:04 PM

T-Hub's programme will pick 30 startups for quarterly support and will handhold startups, create right business plans for them along with financials and investment pitch deck to get angel investors excited about them.

The programme is also supported by deals discovery platform LetsVenture wherein the selected 10 startups from each batch will be listed on LetsVenture.

Startup incubator T-Hub and Telangana government today announced the launch of its three-month accelerator programme T-Angel to support technology startups in healthcare, real estate, entertainment, sports, education, and finance sectors and make them investible. The programme will pick 30 startups for quarterly support beginning on October 20, 2019, and top 10 startups from each batch will receive funding. “T-Angel is the part of the ecosystem capacity building that we do. While we are probably the fourth most active investment ecosystem after Bengaluru, Delhi NCR, and Mumbai but we are far behind them. We can either assume things will fall in place or we can take a very concerted effort in building this ecosystem in a different way,” Ravi Narayan, CEO, T-Hub told Financial Express Online.

The programme is also supported by deals discovery platform LetsVenture wherein the selected 10 startups from each batch will be listed on LetsVenture. Through the platform, investors and startups can list themselves and discover each other based on their interest areas. “In Hyderabad ecosystem, the gap is that at the angel investment level. The ecosystem has more than 200 startups that are ready to raise angel money but we have less than 50 active angel investors. To bridge this gap fast, we partnered with LetsVenture to ensure that the deals we identify goes through completion,” said Narayan. LetsVenture has so far helped more than 190 startups raise over $85 million in the past six years. 

The programme will handhold startups, create right business plans for them along with financials and investment pitch deck to get angel investors excited about them. T-Hub is also working with angels and training certain of them to become lead investors in investment rounds. “While we are doing quite a lot in terms of mentoring, handholding for startups but we feel that it will take a while for venture capital investors and angels to appreciate Hyderabad for the kind of startups available here for funding. While investors are setting up offices here as well but not at the pace at which it is required like Bengaluru, Mumbai, Gurugram. So we feel early-stage startups miss out because of this,” Jayesh Ranjan, Principal Secretary Industries and IT, Telangana State told Financial Express Online.

T-Angel is looking to help 15-25 startups get funded in the next 12 months while the amount to be invested could be Rs 2 crore on an average and around Rs 100 crore in total in 12-month period.

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