Telangana State Innovation cell commence its operations today
State Innovation cell commence its operations today. Earlier, Minister KT Rama Rao had announced the formation of the State Innovation Cell under Telangana State Innovation policy. Pharma, Agriculture and other sectors to be benefitted with the State Innovation cell. With THUb, RICH, Hyderabad has already acclaimed international reputation, With the formation of State Innovation cell , Telangana has taken a step forward research in the sector. The SIC is currently located in IIIT Hyderabad and led in the interim by Prof. Ramesh Loganathan (Professor CO-Innovation, IIIT Hyderabad) said Minister KT Rama Rao in a press release today.
The scope of the State Innovation Cell (or SIC) is to nurture and enable the early stage startup ecosystem from seeding new start-ups to nurturing them through taking their start-up to market (angel stage). The cell will be the single window for administering all incentives announced in the Innovation policy for start-ups and Incubators.
The immediate focus of the SIC is to document, network and amplify the early stage support ecosystem. Specifically, an initiative has been started, to work, to network all the Co-Working spaces and through shared joint support enable these spaces to be as effective as incubators. Through these co-working spaces, the early stage start-ups will be provided business/strategy mentoring, market connection and investor access. The endeavour is to direct all early stage start-ups applying to THub to a participating, qualified co-working space and through the space enable the start-ups to grow to initial market traction and be ready for angel stage support offered by THub and/or others.
Co-Working spaces registered under this initiative along with their start-ups will be periodically monitored to understand the gaps in their capabilities, helping the cell understand the enablement required. Based on this, regular monthly meet ups and workshops will be organized. The specific shared support offered will be in the form of Operational support (banking, legal, accounting, etc.), technological (platform sharing, credits, etc.) startup boot camps (accelerator mode short workshops), Start up support for mentoring/industry/investment and a single window for all state incentives.