Telangana government plans to set up incubator for start-ups

Tags: News
The Telangana government plans to establish the "country's largest" incubator for start-ups and make entire Hyderabad Wi-Fi enabled, as it seeks to shrug off the slowdown in the information technology sector.

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".

EDITORIAL OF THE DAY

  • Finance minister has been pragmatic in exempting FIIs from MAT claims

    Good sense has finally prevailed in the government, with finance minister Arun Jaitley announcing the income-tax officials will exempt overseas funds

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

Centre set to scrap 60:40 norm for NITs

A committee set up by the ministry of human resource ...

Zehra Naqvi

If you bend, you won’t break

There’s an ancient exercise about a green, supple new branch ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture