T-Hub, a Hyderabad-based incubator has stepped into a collaboration deal with Action For India (AFI), International Institute of Information Technology, Hyderabad (IIITH), and Indian Institute of Technology Hyderabad (IITH) in order to develop an inclusive social entrepreneurship ecosystem in the state of Telangana, reported ET.
The MoU-inked collaboration will focus on integrating the four organisations’ experiences and resources to create an ecosystem to support tech-enabled, social impact startups, countrywide. It also aims at delivering strategic scaling support to 5000 social impact startups over five years.
It is also shaped to resolve the challenges faced by entrepreneurs with a special focus on business model, market discovery, go-to-market strategy, scale-up strategy, right technology application and securing funds.
Ravi Narayan, CEO of T-Hub said, “India requires both venture model startups and social model startups to become a five trillion-dollar economy. The venture model startups have almost reached maturity. But social enterprises that improve human life by deploying technology need solid support and a robust growth ecosystem.”
T-Hub is a state government initiative for startup, which was formed in 2015. The initiative has provided over 1100+ national and international startups with access to better technology, talent, mentors, customers, corporates, investors, and government agencies.
T-Hub will bring its expertise in capacity-building, network of mentors, investors, corporate connect and legal advisory team to social impact startups to help scale business. IITH and IIITH will also enable social impact startups with technology upgradation and support with government connections.
Sanjay Kadaveru, CEO of AFI said, “As next-generation technologies surge forward, and social inequalities leave millions of Indians behind, we must be intentional to invest in social entrepreneurs who are committed to driving large-scale impact, as well as the proper infrastructure to create sustainable change. This partnership will help us in achieving our vision of creating a stronger ecosystem to enable social entrepreneurs to thrive and reach new heights.”
B. S. Murty, Director of IIT Hyderabad, said, “This partnership will aim at combining the strengths of all the ecosystem enablers to create an ecosystem for social impact startups – it will provide all the necessary capabilities that will help them scale rapidly.”