• Through the program, startups secured the opportunity to pitch or network with the leading corporates such as Intel, PepsiCo, Walmart, HSBC, UST Global, amongst others
• Additionally, selected startups got the opportunity to present their innovative products and solutions to leading investors, such as BASF Venture Capital, SRI Capital, Parampara Capital, and Anthill Ventures including many others
Hyderabad, India, December 14, 2019 : T-Hub, which leads India’s pioneering innovation ecosystem that powers next-generation products and new business models, announced the successful closure of the second batch of the startups for its incubation program, Lab32. The startups secured the opportunity to connect and evaluate collaboration opportunities with leading corporates like HSBC, Intel, NPCI, Capgemini, AT&T and investors like Marwari Angel Network, LetsVenture and others.
The six-month incubation program assisted the startups with their go-to-market plans by generating revenue opportunities, building scalable business models, and strengthening their sales and pitch strategies. Additionally, the startups got unprecedented access to tailored workshops and one-on-one interactions with T-Hub’s dedicated pool of 40 mentors bringing in-depth experience in business, investment, and entrepreneurship.
Ravi Narayan, CEO of T-Hub, said, Telangana has established itself as a thought leader by building a unique innovation ecosystem for India. T-Hub, with its strategically designed programs has contributed to building this reputation. Lab32 program has reached another milestone with the successful completion of its second batch. It was inspiring to witness the startups build, grow and scale up their businesses within a short period through the program. Additionally, Lab32 has, so far, enabled startups to raise nearly Rs. 600 crores and increase their potential to double the numbers. We continue to bring the right opportunities and provide an innovation-driven environment for all our startups.
Some of the notable achievements of the startups during the program are as follows:
- Param.ai acquired new clients after it joined the Lab32 program. It successfully signed a multi-year contract with enterprise companies like Indigo airlines, Emerson and Practo.
- StaTwig, signed an MoU with UC Berkeley Smart Village Movement (SVM) and the Arunachal Pradesh Government to track vaccine inventory, vaccine quality and immunisation coverage in the state.
On this occasion, T-Hub also launched the Alumni Program, focused on fostering a culture of innovation and a long-term association with startups from all its past programs for corporate innovation, incubation, acceleration, market access, investor connects, etc. The TakeOff, an exclusive event for interested Lab32 startups to pitch to a selected audience of corporates and investors was also organized.
The startups were handpicked from over 500 applications received from across the world and were selected based on the quality of their technology solutions, product readiness and growth potential. Some of the graduating startups are Param.ai, StaTwig, Cantilever Labs and Augmented Byte. The third batch of Lab32 will commence in January 2020.
