Telangana has been recognized as the ‘Top Performer’ for the startup ecosystem by the Central Government, Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. The index was recently released by the Union Minister of Commerce and Industry Piyush Goyal in New Delhi.
The Department of Promotion of Industry and Internal Trade (DPIIT) has mentioned the key initiatives taken by the Telangana government especially Research and Innovation Circle Hyderabad (RICH) City Knowledge and Innovation Cluster Research and Innovation Circle of Hyderabad (RICH) is the nodal agency for Hyderabad Science & Technology (S&T) Cluster, an initiative of the Office of Principal Scientific Advisor (PSA) to the Government of India. It is a Section 8 company under the Companies Act 2013.
Launched in 2017 by the Government of Telangana, RICH acts as a facilitator and aims to foster greater collaboration between various entities in the research and innovation space. RICH operates in close coordination with the S&T Cluster Apex Committee and the Prime Minister’s Science, Technology and Innovation Advisory Council(PMSTIAC). The Clusters work towards achieving the following broad objectives:
- To increase India’s national & global S&T competitiveness.
- To become regional solution providers for local industry & government.
- To create shared S&T ecosystems in India.
DPIIT also lauded the Telangana Innovation Fund (T-Fund) to support the startups. Some other great measures by Telangana for developing a startup ecosystem are WE Hub – a women-focused incubation center. Government Mentor Program (GMP) to bridge the gap between state and startups.(Source: startupindia.gov.in)
Telangana is home to 3000+ startups; it has 15+ state-supported and private incubators. The states and UTs have been ranked by DPIIT under these categories. 1) best performers; 2) top performers. 3)Leaders, 3)aspiring leaders 4) emerging startup ecosystems.