Hyderabad, June 26: The second phase of T-Hub is all set for in Hyderabad on June 28.

Spread over 370,000 square feet and designed to house more than 1,500 startups, this will be the world's largest technology startup incubator. CIE (IIITH Incubator) Selected for INR 5 Crore Startup Funding Grant from Startup India Seed Fund Scheme

Telangana Chief Minister K. Chandrasekhar Rao will inaugurate the facility, which has come up at Raidurg in Hitec City, the information technology cluster.

Backed by the Telangana government, the facility for innovation and entrepreneurship is expected to give further boost to the startup and innovation culture in this technology hub.

Information Technology Minister K. T. Rama Rao on Sunday took to Twitter to announce that the Chief Minister will be inaugurating the new facility. He said this would give a huge fillip to Hyderabad innovation ecosystem.

The minister had stated earlier that the state government has invested more than Rs 276 crore on the facility.

The building was originally scheduled to be ready in the second half of 2019 but the work was delayed due to various factors and Covid-19 led to delay of another two years.

T-Hub, the startup catalyst, was established in November 2015. It is a public private partnership between the state government and three premier academic institutes - the International Institute of Information Technology-Hyderabad (IIIT-H), the Indian School of Business (ISB), and the National Academy of Legal Studies and Research (NALSAR) University of Law.

The first phase of T-Hub was launched in 2015 at IIT-H. Housed in a 70,000 square feet space called Catalyst within IIIT-H campus, it transformed as the largest and the best technology incubator in the country.

The facility rents out office and meeting space, and offers services such as connections with mentors and investors, to startup companies.

It hosts entrepreneurs, venture capitalists, investors, mentors and advisors. Several people from top academic institutes have taken the mentor's role.

According to officials, T-Hub has not remained just as an incubator, but through various initiatives became a key enabler of the innovation ecosystem of Hyderabad.

T-Hub offers various programmes for start-ups and forged associations with a number of companies and like minded organisations globally.

It is estimated that T-Hub has so impacted 1,100 startups and cohort start-ups raised Rs 1,860 crore. It also offered more than 100 exclusive programmes.

(The above story first appeared on LatestLY on Jun 26, 2022 06:49 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).