Hyderabad: After the successful completion of its Lab 32 version 1.0, Telangana’s startup incubator T-Hub has launched the version 2.0 of the programme. For the second version of Lab 32, T-Hub has handpicked 45 startups from 500 applications it received out of which 43 are Hyderabad-based startups. These startups will go through a six-month long incubation programme that has been tailor-made for early stage technology product startups.
As part of the programme, the startups will get access to mentoring, funding and networking support wherein their products will be validated for market fit. In addition, the startups will get to know how to understand customers, build relationships with investors and enhance their personal network. In the first batch of Lab 32, about 70 startups were selected who raised a total capital funding of Rs 112 crore while creating 2,000 plus jobs and won 50 plus awards.
Commenting on the programme, T-Hub CEO Ravi Narayan said, “We have startups from diverse sectors like healthtech, fintech, smart mobility, sustainability, social impact, smart cities and edtech among others. These startups were selected on the basis of their initial market traction, founding team and funding along with their revenue numbers. These are all developing solutions on the broader theme of Digital India.”
Apart from access to investment, the 45 startups selected for the programme will get access to workshops and seminars from senior corporate executive and serial entrepreneurs besides networking and peer-mentoring opportunities within the batch. Along with this, they will be able to access the various software and technologies being offered by the 40 plus partners of the programme that include cloud credits, web development and others.
Some of the startups which are part of the programme are Bintix Waste Research, GlamEgo, Marut Drones, StaTwig and Zobaze. Among the 45 selected startups, 71 per cent are less than three years old, 27 per cent have already received some funding, 95 per cent are from Hyderabad, 82 per cent are generating revenues, 76 per cent are into B2B model and 32 per cent use core technologies like AI, ML and Blockchain.