A $310 Mn (INR 2,000 Cr) master fund will be set up to invest in sector-specific startups, along with general venture capital funds.
The state’s government will also set up a $38.7 Mn (INR 250 Cr) T-SEED fund to support seed stage startups. As stated in an official statement by the Telangana Government, “Additionally, a ‘Phoenix fund’ will also be launched that will identify and attract entrepreneurs who have attempted at least one venture, previously.”Telangana Innovation Policy: An Overview
With this policy, the Telangana government aims to leverage upon its natural demographic assets as well as its skilled and research workforce.
The innovation policy will primarily focus on developing infrastructure and programme management capabilities, the statement said.
Under the purview of the innovation policy, the state will work to create sustainable funding models, through funds and other instruments, and to develop human capital by creating the right environment and support systems for learning, experimentation and innovation from the early phases of education. Furthermore, the innovation policy will ensure proactive engagement with industry to encourage rural and social enterprises.
Telangana Government Innovation Policy: Key Measures Taken
- The state’s government has chosen large IT majors such as Microsoft, Oracle, and TCS to base their offices in the city. With the help of corporates, it will set up device-testing labs to provide enterprise software at subsidised rates.
- The T-Hub model will be replicated in life sciences, defence and aerospace, hardware and electronics manufacturing.
- There will be a separate fund for the development of…