Hyderabad, Dec.10 (RAHNUMA): Chief Minister A. Revanth Reddy appealed to startup founders to make use of the Rs 1,000 crore Startup Fund of Funds to be soon launched by the government.
Referring to the humble beginnings of Google in 1998, Revanth Reddy hoped that at least 100 startups from Hyderabad became unicorns by 2034.
The Chief Minister was addressing a gathering after launching the Google for Startups (GfS) hub in T-Hub, Hyderabad. IT Minister D. Sridhar Babu, special secretary to CM B. Ajith Reddy, special chief secretary Sanjay Kumar, deputy secretary Bhavesh Mishra and several Google executives attended the event.
A dedicated Google-branded space to encourage the vibrant startup eco-system in Telangana, the Google for Startups (GfS) hub in Hyderabad is the first such hub in India.
Google plans to engage regional startups from Telangana through the hub, including free, year-long dedicated coworking seats for selected AI-first startups and a curated set of venture investors.
The Chief Minister said he wants Hyderabad to become a hub not just for start-ups but also a hub of unicorns. “At least 100 startups from Hyderabad must become unicorns, and at least 10 of them super unicorns, by 2034. With the GfS launch, he said.
“The government and Google came together to create the support system for startups. We will work together to create a winning eco-system,” he said.
Citing the inspiring journey of Google from starting in a garage in 1998 to the success it is today, Revanth Reddy encouraged startups to become billion dollar companies.
“In the last two days, we organised the Telangana Rising 2047 Global Summit. We shared the vision for our future. We aim to become a 1 trillion dollar economy by 2034, and a 3 trillion dollar economy by 2047,” he said.
He added that the Telangana Rising vision for startups is aligned with the ambition of startups becoming unicorns.
“Today, there are many companies, who were start-ups less than 15 or 20 years ago, who are now worth billions of dollars. Google, Apple, Amazon, Tesla, Facebook are great examples.”
He also drew a similarity with the impressive growth of Hyderabad based companies in software services, pharma and life sciences in the last 25 years.
The Chief Minister emphasised the importance of team work and hard work for startup success. “Start-ups are like football. I give the example of football because I play the game.
In football, you have to work hard, practice hard. It is team work. But finally, winning is most important. It is the same with startups.”
He urged the startup founders to make use of the Rs 1,000 crore Start-up Fund of Funds the government is creating
