Telangana Making Big Strides in Attracting Web3.0 Startups
In an effort to promote innovation and entrepreneurship within its borders, Telangana's IT department has announced plans to attract Web3 startups from across India and abroad through initiatives such as T-Hub incubator program and Startup Village initiative which provides financial assistance & mentorship support for aspiring entrepreneurs!
Dec. 26, 2022 7:01AM
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A picture of Jayesh Ranjan making his announcement about attracting Web3 startups along with pictures of some successful Web3 startup founders smiling happily behind him
In a recent interaction with Inc42, Telangana IT Principal Secretary Jayesh Ranjan made an exciting announcement that the state is actively trying to attract and facilitate Web3.0 startups in the country. This move is part of the government’s efforts to promote innovation and entrepreneurship within the state, which has already seen a surge in investments from both domestic and international sources over the past few years. The IT department of Telangana has been at the forefront of developing initiatives to help budding entrepreneurs set up their businesses in the state. It has launched several programs such as T-Hub, India’s largest incubator, and TSIC (Telangana State Innovation Cell) to encourage startups to come up with innovative solutions for various problems faced by society today. The government also plans to launch a new program called ‘Startup Village’ which will provide financial assistance and mentorship support for aspiring entrepreneurs who are looking to set up their business in Telangana. The initiative will also focus on creating an ecosystem where startups can easily access resources such as capital, technology, talent pool etc., making it easier for them to succeed in their venture. Moreover, Telangana has recently signed agreements with some of the world’s leading tech companies such as Microsoft and IBM that will enable local entrepreneurs to access cutting-edge technologies like artificial intelligence (AI), machine learning (ML), internet of things (IoT) etc., thus helping them develop more advanced products or services that can be used by customers around the world. The government is also working towards improving infrastructure within the state so that it can become a hub for web 3.0 startups from across India and abroad. To this end, it is planning on building specialised incubators dedicated solely for web 3.0 startups so that they have all necessary resources available at their disposal while setting up shop here in Telangana. With these initiatives being put into place by its government, it looks like Telangana is well on its way towards becoming one of India’s most attractive destinations for web 3.0 startups looking to make their mark on the global stage!