Hyderabad, Dec.10 (RAHNUMA): Minister for IT and Industries Duddilla Sridhar Babu on Wednesday announced that the state government will establish Incubation Centres in all government universities to promote innovation, foster research-led entrepreneurship, and strengthen the startup ecosystem across Telangana.
The Minister made the announcement after inaugurating the ‘Google for Startups Hub’ at T-Hub in the presence of Chief Minister A. Revanth Reddy. Speaking at the event, Sridhar Babu said the proposed incubation centres would be developed on par with the Telangana AI Innovation Hub and the Life Sciences ONE Hub, aligning with the Government’s vision to position Telangana as a Global Innovation Hub.
“We do not view startups merely as small enterprises. We see them as economic engines capable of solving societal challenges and generating new employment opportunities,” the Minister said.
Sridhar Babu noted that Telangana startups raised USD 571 million in 2024, registering a 160% increase over the previous year. The HealthTech sector alone witnessed a remarkable 2,139% rise during the same period.
He added that Hyderabad now ranks sixth in India in women-led startups, with 531 women-led enterprises raising USD 417 million. “These are not just statistics; they demonstrate the impact of the government’s progressive policies and sustained support for innovation,” Sridhar Babu said.
Emphasising the State’s commitment to inclusive technological growth, the Minister said technology is being treated not just as a tool but as an instrument of equality, ensuring its benefits reach every citizen.
To strengthen financial support for emerging startups, Sridhar Babu announced that the Government will soon operationalise a ₹1,000-crore Fund of Funds. “The Government of Telangana will continue to stand firmly behind young innovators and new ideas,” he assured.
