Telangana government plans to set up incubator for start-ups
Jun 09 2014 , Hyderabad
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 even look at the possibility of providing seed capital as well," Rao told PTI here.
He said that he is also actively examining a proposal to make Hyderabad a fully wi-fi enabled city to ensure that common man and information technology companies benefit.
"These two ambitious goals (incubator and wi-fi initiative) shall be pursued in the next six months," he said.
Without referring to pro-Telangana statehood agitations, Rao admitted that investment climate had slowed down in recent years and government initiatives are now needed to boost investor sentiment.
"At this point, the ecosystem here needs a further push from the government. Last five years saw a slowdown in the general investment environment," he said.
Rao said that he is meeting existing investors in Hyderabad to ensure that they expand operations in the city and focus on increasing infotech exports.
The minister said that he is also talking to small, medium and big companies to encourage them to be back in what he called "big time action".