Comments
Kanwal Rekhi, a silicon valley entrepreneur who founded The Indus Entrepreneurs, has announced a financial assistance of ₹20 crore to Kakatiya Sandbox in Nizamabad in Telangana.
Kakatiya Sandbox, promoted by entrepreneur Raju Reddy, supports rural innovation projects by helping rural entrepreneurs to scale up their operations.
Kanwal Rekhi, who is here for the TiE Global Summit, has announced the support to Kakatiya Sandbox through Kanwal Rekhi Rural Entrepreneurship and Start-up Center (KREST).
KREST will be a part of K-hub, a social innovation hub run by Kakatiya Sandbox, to improve economic prosperity in the region.
Incubation centre
KREST will set up a 10,000-sq ft of space, which will include a 4,000-sq ft incubator and 3,000-sq ft of a Makers Lab. It would also have a 100-seater co-working space.
“KS will use the investment to scale its programmes across agriculture, skilling, start-ups, and micro-entrepreneurship,” Raju Reddy said in a statement on Wednesday.
Related Stories
KDEM and TiE Bangalore launch bus yatra for start-up ecosystem
Start-up XPRESS brings together start-up founders, mentors/investors in a 12-hour journey that will end in HyderabadKanwal was the first Indo-American Founder and Chief Executive Officer to take a venture-backed company public on the NASDAQ.
KREST will help build a strong rural entrepreneurship ecosystem for entrepreneurs to test their ideas, build successful ventures, and scale.
“KREST can become a model for other parts of rural and semi-urban India,” Raju Reddy said.
Related Stories
TiE sets a target of supporting 1 million start-ups in 10 years
As per the KPMG study, TiE had created wealth worth $1 trillion“Indians have raised the bar in the US and built great prosperity through entrepreneurship. We want a similar movement in India to create an ecosystem that supports 10 million entrepreneurs when India turns 100 years in 2047,” Kanwal said.
“To achieve this goal, it needs an entrepreneur-driven infusion of technology and techniques in this sector. I hope Kakatiya Sandbox will validate this idea and provide a role model for others,” he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.