- This partnership aligns seamlessly with the upcoming MSMEs policy of the Telangana government.
- Notably, T-Hub has been instrumental in nurturing the development of 110 social impact startups to date.
Hyderabad, 2nd February 2024 – T-Hub, India’s premier startup incubator, has officially entered into a dynamic partnership with Bala Vikasa, an innovative force in community development. The collaboration, formalized through a Memorandum of Understanding (MoU) signed at the Social Start-up Expo, ascertains a shared commitment to fostering innovation, addressing grassroots challenges, and driving substantial social impact. Duddilla Sridhar Babu, Minister for IT & EC, Industry and Commerce, Telangana Government, graced the occasion, emphasizing the strategic significance of this collaboration.
This strategic alliance dovetails with the imminent launch of Telangana’s new Micro, Small, and Medium Enterprises (MSMEs) policy. In an innovative move, the government is strategically integrating social entrepreneurship into this policy framework, aiming to position Telangana as a pivotal hub for social innovation and entrepreneurial growth. The collaboration between Bala Vikasa and T-Hub is pivotal in materializing this vision, centering on Social Innovation, Frugal Innovation, and Rural Innovation, with a clear objective of extending impact beyond urban confines into rural landscapes.
As part of this collaboration, T-Hub is committed to providing comprehensive support to startups, delivering specialized Capacity Building programs in collaboration with Bala Vikasa to enhance skills and knowledge. This partnership also designates Bala Vikasa as a Program Partner, formalizing a strategic commitment to mentorship and knowledge exchange initiatives aligned with mutual objectives. T-Hub, in turn, will facilitate Market Access Support by Bala Vikasa, empowering startups within T-Hub programs, facilitating market access, and creating pivotal opportunities for pilot projects. The collaboration further envisions the Cross Utilization of Infrastructure, underlining a shared commitment to maximizing operational efficiency and fostering innovation in India’s dynamic startup ecosystem.
Anthony Anish, Chief Operating Officer at T-Hub, expressed his enthusiasm about the collaboration, stating, “In this transformative partnership with Bala Vikasa, T-Hub is dedicated to nurturing startups that bring about tangible impact. We are committed to building a new vertical with a strong focus on rural, social, and frugal innovation. Our aim is to support promising innovations addressing untapped rural markets and critical social issues through accessible and affordable solutions. Together, we strive to empower startups, drive innovation, and create meaningful change in the startup ecosystem.”
Shoury Reddy Singareddy, Executive Director of Bala Vikasa, emphasized the immediate support for the social business accelerator program by T-Hub, highlighting plans for diverse activities in capacity building, mentoring, knowledge development, and ecosystem-strengthening in the coming days.
T-Hub has a remarkable track record, nurturing nearly 110 social impact startups. Success stories include Banyan Nation, a pioneer in plastic recycling; Donatekart, revolutionizing crowdfunding; Financepeer, providing crucial support for education payments during the pandemic; and Kisanwala, a digital agri marketplace empowering farmers. T-Hub continues to be a catalyst for transformative ventures, fostering innovation and social change.
