The second phase of T-Hub will be ready by the end of this year with an investment of Rs 300 crore, according to Jayesh Ranjan, Principal Secretary, IT & Industries, Telangana.
He was speaking at the National Startup Conclave, HSX-2019 held at IIIT—Hyderabad campus here on Saturday.
“It will be the world’s largest incubation centre,’’ he said adding that Telangana could boast of having the largest technology incubator in the country.
The Government was working on extending significant funding to startups and modalities were being explored, the official said.
Referring to an initiative by the State Government to procure products from home-grown startups, he said over three dozen products and services were procured by various government agencies from startups in the last four years and the number will go up in future.
``Right now we are evaluating 15 to 20 products and services for procurement by government,’’ Ranjan said.
In his keynote address, Ravi Narayan, CEO, T-Hub said there were 4,000 startups in the state accounting for around 15-20 per centof total startups in the country. The growth rate was over 30 per cent per annum which was much higher than national growth rate of 15-20 per cent.