T-Hub announces cohort-based incubation system Lab32; to incubate over 100 startups every year

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Published: April 5, 2018 11:35:20 AM

Starting May 2018, the incubation program at T-Hub will entail a two-phased admission process – first phase of admission will be in the month of April and the second phase in the month of October, each year.

T-Hub announces cohort-based incubation system Lab32; to incubate over 100 startups in a year

One of the India’s biggest incubators, T-Hub, has announced the launch of its cohort-based incubation system – Lab32. The program is directly aimed to support government’s Startup India Initiative by directing entrepreneurship, innovation and addressing the challenges faced by startups. T-Hub is a public/private partnership between the government of Telangana, three of India’s premier academic institutes (IIIT-H, ISB and, NALSAR) and key private sector leaders.

Commenting on the launch of the new incubation program, Jay krishnan, CEO of T-Hub said, “The program will help us solve two main challenges in the startup ecosystem. First is the level of market understanding that startups bring in, and second is the lack of market appetite analysis for their offerings.”

The program will further offer a six month program that will compromise of ‘The Playbook’ and ‘Startup Buddy’. Playbook is a tool developed by the incubator which will be used for tracking growth and supporting scaling of those companies. For instance, if an investor wants to know the 3 fastest growing companies in the Hub or 3 fintech companies in the Hub (out of 100-200), the system will be able to identify the number and ranking immediately. The Playbook is an amalgam of T-Hub’s understanding of the startups and data of companies.

Further, the Startup Buddy tool will act as a dedicated member for each startup. These startup Buddies will either be experienced investors, venture capitalists or a C-level startup officer.

Commenting on the same, Jay added, “With this initiative, our startups will have access to a tool called ‘playbook’ that will allow them to be true incubatees. At the end of the first phase of program, startups will either graduate or stay back, based on how they measure up to the growth matrix. Accordingly, we will put them in the second phase of the program for another six months. We will ask every single entrepreneur at T-Hub to identify and tell us the top 10 things that they want to achieve and we will aim to help them hit all those before they graduate.”

Starting May 2018, the incubation program at T-Hub will entail a two-phased admission process – first phase of admission will be in the month of April and the second phase in the month of October, each year.

Eligibility

  • The startup will have to be market ready
  • A bare minimum of 1 customer
  • At least one member team

No matter where the startup is based out of, T-Hub is providing virtual incubation as well. This will include Startup Buddy, Playbook, other mentors, workshops, and seminars.

Even existing startups currently incubating in T-Hub will need to re-apply through the process to be a part of Lab32 program. The incubator will incubate 100 startups bringing seats for 800-1000 entrepreneurs through physical incubation.

The incubator is focussed on HealthTech, FinTech, Smart Cities, Transportation and Sustainability. The applications for the program close on April 15, 2018.

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