Hyderabad, Jan 23 (IANS) The Telangana government Friday began the work on T-Hub, which promises to be India's biggest incubation facility.
Telangana Information Technology Minister K. Tarakarama Rao laid the foundation stone for the facility at the International Institute of Information Technology (IIIT) at Gachibowli here.
Expected to be operational by June this year, it would be the largest centre for start-up and entrepreneurship activities in the country.
The T-Hub is being set up in collaboration with IIIT, Hyderabad, Indian School of Business (ISB) and NALSAR University of Law.
The phase I coming up at IIIT at a cost of Rs.35 crore will be spread over 60,000 square feet and can accommodate 400 start-ups by 2017.
The building will be used for three years.
In the second phase, to commence 2017 onwards, the centre will have its own campus over 300,000 square feet. To be built at an estimated cost of Rs.200 crore, it will house various stakeholders like start-ups, investors and service providers.
The hub will incubate 1,000 start-ups by 2020.
The minister said the fund corpus of T-Hub would be Rs.300 crore by 2017 and would double in three years.
It is expected to generate annual employment of 3,000 by 2017 and 10,000 by 2020.
The minister said ISB would provide business mentoring, IIIT technology mentoring while NALSAR would help in intellectual property and related areas.
The minister said this was one of the key initiatives of the government to make Telangana the most preferred technology investment destination in the country.
T-Hub will be a platform to accelerate the growth of technology start-ups in Hyderabad by providing them an ecosystem of quality infrastructure, mentors and fund managers.
It would be incubator of incubators which would enable all the technology incubators in the ecosystem.
The tribal districts of Lahaul Spiti and Chamba in Himachal Pradesh have received heavy snowfall.
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