T-Hub announced during the year 2022 targets to deploy Rs 5 crore (received from Startup India) among eligible startups with an objective to support and fuel early-stage funding in startups. 15 startups will get the benefit from this program.
T-Hub has already set up an incubator seed management committee comprising prominent investors, mentors, entrepreneurs, academic partners and state government representatives to assess the fund and select startups for funding under the initiative.
T-Hub Startup Funding a big opportunity for new age startups
2022 T-Hub will focus on providing funding avenues for inspiring startups. Eligible startups will receive financial assistance for proof of concept, prototype development, product trials, market-entry, and commercialisation.
T-Hub CEO M Srinivas Rao had said, “This fund is a huge validation of our strategy and execution of equipping startups with the means to reach their full potential, especially at the early growth stages. We are supporting our startups by leveraging the network of partners that back our mission and this is just a start to provide opportunities to access funding and grants.”
Incubator Seed Management Committee (ISMC) which consists of prominent investors, mentors, established entrepreneurs, academic partners, and state government representatives, has been set up by T-Hub to assess the fund and select the startups.
T-Hub will be disbursing this fund to 15 startups in the span of three years. Interested startups can apply for the fund at https://seedfund.startupindia.gov.in/. The seed fund allocated to T-Hub is sector agnostic and will focus on supporting technology startups and innovations which are Minimum Viable Product (MVP) ready and need funds for their early growth.
Incubator Seed Management Committee (ISMC) which consists of prominent investors, mentors, established entrepreneurs, academic partners, and state government representatives, has been set up by T-Hub to assess the fund and select the startups.
One of the ISMC members, Ajit Rangnekar, Director General at Research and Innovation Circle of Hyderabad (RICH) commented “This fund will definitely help early and growing tech companies with the access they need to create sustainable businesses.” Kiran Darisi, Co-Founder & VP of Engineering, Freshworks, and ISMC member also shared his thoughts mentioning that “Initiatives like these strongly showcase the benefits of public-private partnerships which adds immense value to the startup ecosystem.”
Wg Cdr Anthony Anish, Founding team member, MyGate, and ISMC member said, “We understand that capital infusion at the appropriate stage acts as an inflection event for any startup. I am sure this initiative will enable startups to unlock their growth phase.”
