Hyderabad: Innovation ecosystem builder T-Hub on Tuesday announced the launch of the fifth edition of its flagship pre-acceleration programme, Lab32 by onboarding 30 startups. The startups will receive consultation from leading experts on business goals like revenue growth, customer acquisition, market expansion and product roadmap.
The programme will run until June 2021 and it will continue with its hybrid model, launched last year owing to the pandemic. Startups from various cities are part of the programme along with startups from rural innovation space with social impact. The selected startups offer solutions in industries such as media, SaaS, healthtech, e-commerce, drones, social commerce, blockchain, agritech, rural commerce, robotics, enterprise IT, foodtech, mobility, and adtech.
T-Hub CEO Ravi Narayan said, “Lab32, the pre-acceleration programme aims at preparing startups for rapid growth making them investment ready. Most of our alumni have contributed to our country’s economy by successfully expanding their business to global locations. We are confident that chosen startups from various sectors will make sizable contributions to the economy and society.”
More than 300 startups applied for this batch, and the same were evaluated by the startup innovation team of T-Hub. The startups were further shortlisted through one-on-one connection, with T-Hub interviewing and educating them about the programme. The startups were selected based on the technology component of the startup, their market readiness and the maturity of founders who had a clear business roadmap.
In the first month of the Lab32 program, T-Hub will conduct a pre-programme assessment to understand the requirements of the startups in detail, followed by consultant connections. The startups will then undergo rigorous training and consultation sessions by professional trainers, advisors, and subject matter experts, based on the needs of the startup. In the end the programme will assess the progress made by each of the startups based on the objectives set at the beginning of the programme. Thirteen startups from the fourth batch graduated in February 2021 and attracted interest from investors and corporates during the take off.
Telangana IT department principal secretary Jayesh Ranjan said, “It is good to see the Lab32 programme progress successfully to its fifth batch. The program has continued to be a support system for the early stage startups, not just in Telangana but across India.”
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