A National Centre for Innovation, Entrepreneurship & Start-ups of the premier industry body CII (Confederation of Indian Industry) to support start-ups as well as its members will come up in Hyderabad.
The facility will be supported by the Government of Telangana, by way of space at the famed T-Hub technology start-up incubator in the city, and Prathiksha, a charitable trust set up by Infosys co-founder S.(Kris) Gopalakrishnan, and his family members. It will start functioning from April, and on completion of the T-Hub Phase II, and set to open in July, will shift there.
(Kris) Gopalakrishnan to put ₹ 7.5 cr
Mr. Gopalakrishnan made the announcement about the centre and its purposes at a CII Start-up Connect meeting here on Tuesday.
Telangana Industries and IT Secretary Jayesh Ranjan, who spoke after him said: “Mr.Gopalakrishnan will be spending ₹ 7.5 crore of his money for this centre.”
The Infosys co-founder, who is also Chairman of start-up accelerator and seed fund Axilor Ventures, said the centre will “support start-ups in all aspects, especially connect them with CII members which are some of the larger companies in the country.” It sought to benefit the members by getting them to know what is happening in the start-up space, the innovations taking place and connect with the start-ups.
Customer and market access
For the start-ups, the benefits will be in the form of getting access to customers, and a much larger market, besides mentorship and investment support.
“We are looking forward to providing a launch pad for overseas start-ups. We will be able to provide our start-ups access to overseas market,” he told the media later. On investments the centre will entail, he said it will be in multiple crore rupees. Support from the State government and willingness to work with the CII were factors behind the decision to set up the centre in Hyderabad, he added.
Facility benefits corporates too
Noting that many cities were in the fray, Mr. Ranjan said the centre will be a “terrific facility for the start-ups as well as corporates.” The CII has 8,000 members and many more thousand indirect members.
Consul General of Belgium in Chennai Mark Van de Vreken and T-Hub CEO Ravi Narayan spoke on the start-up ecosystem in Belgium and Hyderabad respectively.
A CII statement said the primary objectives of the centre would be to support start-ups with mentoring and other resources, attract innovative start-ups to collaborate with corporates and help corporates identify suitable budding start-ups for forging business partnerships. The Centre would also help investors select potential start-ups for committing financial stakes.
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