T-Hub, LetsVenture launch startups funding programme

T-Hub, LetsVenture launch startups funding programme
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29 Aug, 2019

Hyderabad-based startup incubator T-Hub announced the launch of its funding programme T-Angel in association with Bengaluru-based early-stage venture capital firm LetsVenture Technologies.

T-Angel is a three-month investment acceleration programme, which will be the first phase of a series of programmes to facilitate angel investments in Telangana, said a statement issued by T-Hub.

The programme will shortlist 30 startups that have developed solutions in the healthcare, real estate, entertainment, sports, education and finance sectors.

Ten startups from the initial batch of 30 will be listed on LetsVenture’s investment platform where they will be assisted to secure investment.

The incubation programme for the first batch will commence on 20 October, the statement said.

The batch of 30 startups will be taken through boot-camps and mentoring to help them raise investment. T-Hub aims to secure investments for 40 startups per year.

Support for startups under the programme will include access to digital infrastructure from service providers associated with T-Hub such as office software suite Zoho and cloud platforms Microsoft Azure and Amazon Web Services.

“Now is the right time to attract global venture capitalists and angel investors, and ensure both startups and investors progress. T-Angel is an initiative in that direction,” said Jayesh Ranjan, principal secretary, industries and IT, Telangana.

T-Hub is a public-private partnership incorporated in 2015 between the Telangana government, Indian Institute of Information Technology (IIIT) - Hyderabad, Indian School of Business, Hyderabad and National Academy of Legal Studies and Research (NALSAR) University of Law.

Founded in 2013, LetsVenture Technologies has helped 190 startups raise funding from venture capital firm Accel, Ratan Tata, chairman-emeritus of Tata Sons, and Nandan Nilekani, non-executive chairman of Infosys.

Recent initiatives by T-Hub

In July, social media behemoth Facebook and T-Hub shortlisted 10 startups from their joint accelerator programme to help develop solutions for social challenges using artificial intelligence (AI).

Earlier this month, the HealthTech Arcade Programme was launched by T-Hub in partnership with health solutions company Optum. Under the programme, 20 startups will showcase their healthtech solutions.

T-Hub launched the Graft Australia-India AgTech market access programme in collaboration with Melbourne-based firm Beanstalk AgTech.