The Telangana state government in association with IIIT Hyderabad, Indian School of Business (ISB) and NALSAR University of Law has launched a start-up incubation centre. It was inaugurated by Tata Sons Chairman emeritus Ratan Tata on November 5, 2015. T-Hub is built at the International Institute of Information Technology (IIIT) at a cost of INR 40 crore. Spread across 70,000 square feet, it has been hailed as India’s largest start-up incubator.
Praising the facility, Mr. Ratan Tata said that “this is the first look at new India of tomorrow not only in e-commerce, e-retailing but in exciting areas of medical remedies, medical treatment, stem cells and life science.”
“My enthusiasm in new India of tomorrow continues to be there. I continue to feel the need to support enterprising young Indian engineers and scientists,” he said. Talking about how India needs to place itself on the global map as an enterprising nation, Tata said, “We have been entrepreneurs be it in agriculture, traditional industries and yet we have not been recognized all over the world as an enterprising country. What we have not done is registered ourselves as an entrepreneurial nation in the new technologies of the world.”
“Technologies that don’t require billions of dollars to establish, that don’t require hundreds of acres to build, enterprises that are built on innovation, that is in your mind non-traditional untried and sometimes risky but make big difference in the world of tomorrow,” he said.
Talking about his life experiences, he said that he too grew up in an environment where his ideas were not appreciated by seniors who asked him to gain some experience before opening his mouth.
“Enterprise today is the ability of someone who may be in his 20s, who has a good idea and who needs to find the way to implement it. We now have an environment of venture capital that listens to that person and we have a facility like this to enable that person to try out his idea to bring out into reality or fruition in a manner that is interdisciplinary, open and unifying,” he added. Telangana Governor E.S.L. Narasimhan also was present at the inauguration.