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Nation Other News 12 Nov 2016 Hyderabad: Mixed res ...

Hyderabad: Mixed results in last two years for T-hub

DECCAN CHRONICLE.
Published Nov 12, 2016, 2:42 am IST
Updated Nov 12, 2016, 2:48 am IST
Of the 900 start-ups registered and 206 in the catalyst, only 23 have raised funding.
Around 40 venture capital companies have come to the city including T-Hub. (Representational image)
 Around 40 venture capital companies have come to the city including T-Hub. (Representational image)

Hyderabad: As T-Hub, the biggest start-up incubator in the country, enters its second year on Saturday, it can boast of over 57 success stories including some doing business of around Rs 50 crore each. T-Hub crorepatis and million dollar club are the new buzzwords in the incubator campus.

Several start-ups have come up with solutions for local challenges like agritech for farmers, pollution and smart city for traffic management to big issues like cyber security and online fraud detection.

 

Of the 900 start-ups registered and 206 in the catalyst, only 23 have raised funding. Around 40 venture capital companies have come to the city including T-Hub.

According to T-Hub founders and chief operating officer Srinivas Kollipara, around $3 million have been invested in since its inception. It has received 2,995 applications since launch.

He said, “We have 711 entrepreneurs in T-Hub and  are aiming to be one of the top 10 start-up ecosystems in the country by 2020. We are connected to around 18 incubators and co-working spaces.”

 

Mr K.K. Jain of Any Time Loan, a startup at T-Hub, said, “We are a money lending and borrowing online platform. Both lenders and borrowers register and can lend Rs 1,000 to Rs 30 lakh. Our software analyses the repaying capacity and intentions of the borrower by not only studying facial features in 3D but it also studies their social media profiles. We use scientific tools to predict with technology like Artificial Intelligence, data science and robotics. So far we have reached a target Rs 42 crore and our default rate is just 0.3 per cent.”

 

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Location: India, Telangana, Hyderabad




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