India's new state wants to establish country’s largest incubator
The Telangana government will even look at the possibility of providing seed capital to the startupsBy Twishy Shahi 16 Jun, 2014
The newly formed Telangana government in India plans to set up the “country’s largest” incubator for startups and make entire Hyderabad a Wi-Fi enabled city, as the government wants to make reforms in the information technology sector as reported by Business Standard.
Telangana Information Technology Minister K T Rama Rao said that the incubator would be set up in collaboration with institutions like the Hyderabad-based International Institute of Information Technology and Indian School of Business, besides technology partners from the industry.
“We are creating the country’s biggest incubator facility where new ideas, innovations, research and development will be nurtured and nourished. We will create an environment where the government will look at the possibility of providing seed capital as well,” Rao said.
According to him, a clearance cell would be formed attached to the Telangana Chief Minister K Chandrasekhar Rao’s office to ensure that all investment proposals are cleared at a single point.
The IT Minister stated that the two ambitious goals (incubator and Wi-Fi) shall be pursued in the next six months.
The investment climate has slowed down in the recent years in India, and the government initiatives like these will only boost the investor sentiment.
Rao also said that he will be meeting the existing investors in Hyderabad to ensure that they expand operations in the city and focus on increasing infotech exports.