We all know that Hyderabad is the Hub of Information technology sectors, and the major companies are based in the IT field and continue to provide a wide range of job employment every year. Hyderabad is not so far toward its healthy growth and creating or making big opportunities in the future. It is supposed to grow by $50 billion by the time 2025. Hyderabad IT sector currently employees is 14.5 lakh, according to the data, and which is expected to increase in upcoming years.
Hyderabad is one of the centers of IT industries throughout the world with the Hubs of IT companies with the name Cyberabad/Cyber Tower or the HITECH city. The area was specially created for Information technology purposes and infrastructure with various IT zones and has US-based companies like Google, Microsoft, Samsung, Motorola, Yahoo, HP, Amazon, Texas, and many others.
Telangana government has taken the initiative to construct or build the tallest IT Park in Hyderabad city. The fourteen-stoery IT park will be constructed by the Telangana state industrial Infrastructure cooperation (TSIIC) in an area of around 10 acres which can accommodate approximately 100 companies with expected to provide 50,000 more jobs in the IT field.
The state government has played an important part of the role in building the scope of IT infrastructure and making the HUB of the IT sector in the city and opening the largest incubation center for the startup namely T-Hub in Hyderabad.
The T Hub, Technology Hub, is a public-private partnership between the state government and three premier academic institutes, the IIIT Hyderabad, the Indian School of Business (ISB), and the National Academy of Legal Studies Research (NALSAR) the University of Law and transformed as one of the largest technology incubators in the country.
The first phase of the T hub was launched in 2015 in IIIT Hyderabad. The 70,000 sqft space within the campus for incubation centers, startups, innovators, and investors. The T-Hub and not only the Hyderabad-based startups but are also meant to provide those from other cities and countries who are looking for a place in T-Hub. Through this program, they are trying to spreading the culture of entrepreneurship to students.
By this, they have decided to launch the second phase of the T-Hub, to provide a big and better facility. It is delayed due to pandemics throughout the world. It is built with Rs 276 crores at Raidurgam, it is spread across 3.5 lakh square feet and can house 1,000 startups.
The T- HUB phase 2, includes multiple stakeholders. The T-Hub is originally scheduled to be ready in the last of 2019 but things got delayed due to various factors and also due to the pandemic it delays by another two years. The State government has said that they have spent or have invested more than Rs.276 crores on the facilities and the infrastructure.
According to the early data of the first phase of the T-HUB, it has more than 2000 startups and investors through various programs and initiatives. And have 600 multinational corporations like Facebook, Uber, HCL, Boeing, Microsoft, and Qualcomm.
The new second phase of T-HUB is unveiled on June 28th 2022, it spread more than 5 lakh sqft area, and this new T-HUB is expected to make one of the largest incubation campuses in the world.
The government is encouraging students to enter the entrepreneurship levels and be a helping hand to the country’s economy. You know the government has come out for several unique initiatives like WE HUB, for enabling the women entrepreneurship to startup and scale up, the Ag-HUB, for the agricultural innovation, and T-Works, billed as the country’s largest prototyping center to create and celebrate a culture of hobbyists, makers, and innovators, Research and Innovation Circle of Hyderabad ( RICH), an initiative to enable the national treasure created by the top scientific research institutions and Telangana Academy for Skill and Knowledge (TASK), which is the focus at offering quality human resources and services to the industry.
The Telangana state innovation cell (TSIC) is come up with another government initiative to foster an innovation-driven economy, taking the initiative to set up 5000 startups in the upcoming next five years. They are focusing to create new young innovators, especially from rural areas.
Hyderabad is growing as the key hub of the startups over the last six years and has a total of over 6,600 startups in various fields. The city has good infrastructure and has a strong IT/ITES, pharmacy, and life sciences industry, presence of a large number of research organizations, availability of a vast talent pool, relatively low real estate price and entrepreneur-friendly policies of the state government have helped Hyderabad evolving as a major hub of startups in a very short time.
Mahankali Srinivas Rao has recently taken the position of T-HUB CEO and said that their main focus will be to build on current strengths and continually improve.