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T-Hub bags Rs 5 cr from Startup India Seed Fund

T-Hub bags Rs 5 cr from Startup India Seed Fund

T-Hub CEO M Srinivas Rao saide, at T-Hub, we are always investing maximum resources and efforts to ensure innovative startups have the right support to thrive and become global leaders.

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Hyderabad: T-Hub, which leads India’s pioneering innovation ecosystem, on Tuesday, announced that it has been selected under the Startup India Seed Fund Scheme by The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India to disburse Rs 5 cr among eligible startups with an objective to support and fuel early stage funding in startups.

With an aim to provide value-driven and effective growth for the startups, T-Hub this year announced its focus on providing funding avenues for its startups and receiving the Startup India Seed Fund is one of the steps towards this focus.

The fund will be disbursed to the eligible startups through debt or convertible debentures instruments. The fund will be utilized to provide financial assistance to startups for proof of concept, prototype development, product trials, market-entry, and commercialization, a statement here said.

T-Hub CEO M Srinivas Rao saide, “At T-Hub, we are always investing maximum resources and efforts to ensure innovative startups have the right support to thrive and become global leaders.

This fund is a huge validation of our strategy and execution of equipping startups with the means to reach their full potential, especially at the early growth stages. We are supporting our startups by leveraging the network of partners that back our mission and this is just a start to provide opportunities to access funding and grants.”

Incubator Seed Management Committee (ISMC) which consists of prominent investors, mentors, established entrepreneurs, academic partners, and state government representatives, has been set up by T-Hub to assess the fund and select the startups.

One of the ISMC members, Ajit Rangnekar, Director General at Research and Innovation Circle of Hyderabad (RICH) commented “This fund will definitely help early and growing tech companies with the access they need to create sustainable businesses.”

T-Hub will be disbursing this fund to 15 startups in the span of three years. Interested startups can apply for the fund at https://seedfund.startupindia.gov.in.

For any further questions or assistance in regards to the application, you can reach out to the T-Hub funding team funding@t-hub.co.