T-Hub, which leads India’s pioneering technology innovation ecosystem, today announced the launch of the fifth edition of its flagship pre-acceleration program, Lab32, with the onboarding of 30 startups. The startups will receive goal-oriented consultation from leading experts on business goals like revenue growth, customer acquisition, market expansion, and product roadmap.
The pre-acceleration program will run until June 2021, and it will continue with its hybrid model, launched last year owing to the pandemic. Startups from various cities like Bangalore, Patna, and Noida are part of the program along with startups in rural innovation space with social impact. The selected startups offer innovative solutions in key industries, such as media, SaaS, healthtech, e-commerce, drones, social commerce, blockchain, agritech, rural commerce, robotics, enterprise IT, foodtech, mobility, and adtech.
Ravi Narayan, CEO of T-Hub, said, “Lab32, the pre-acceleration program, aims at preparing startups for rapid growth, making them investment ready. The idea is to increase and strengthen India’s innovation ecosystem, connecting entrepreneurs to each other and to mentors, investors, and corporates, government for mutual benefiting collaborations. Most of our alumni have contributed to our country’s economy by successfully expanding their business to global locations. We are confident that chosen startups from various sectors, particularly the ones from the rural innovation level, will make sizeable contributions to the economy and society.”
Sri Jayesh Ranjan, IAS, Principal Secretary of the I&C and IT Departments said, “It is good to see the Lab32 program progress successfully to its fifth batch. The program has continued to be a support system for the early stage startups, not just in Telangana but across India. It has been effectively impacting the startups to scale up stronger. We have seen the program also spreading its credibility such that out-stationed startups are eager to become a part of the Telangana innovation ecosystem”.”
The Lab32 Program
More than 300 startups from across the country applied for this batch, and the same were evaluated by the startup innovation team of T-Hub. The startups were further shortlisted through one-on-one connection, with T-Hub interviewing and educating them about the program. The startups were selected based on the technology component of the startup, their market readiness and the maturity of founders who had a clear business roadmap.
In the first month of the Lab32 program, T-Hub will conduct a pre-program assessment to understand the requirements of the startups in detail, followed by consultant connections. The startups will then undergo rigorous training and consultation sessions by professional trainers, advisors, and subject matter experts, based on the needs of the startup. The program will also include a series of workshops for marketing and product design tracks. The program in the end will assess the progress made by each of the startups based on the objectives set at the beginning of the program. Extended support with T-Hub team.
Shyamprasad Molugu, Founder of NearFi, from the current batch, said, “We are at a critical stage of our startup journey and as an early stage startup, we need all the help possible, from the ecosystem. Hence, we have chosen the Lab32 program based on their excellent record of nurturing and fostering startups, also help fast-track their growth through expert mentorship, business scaling and networking opportunities. We expect to gain significant initial traction through the program and take us to the next level, by fine-tuning our marketing strategies and providing the right scaling and networking opportunities.”
Additionally, Lab32 will be offering the startups various opportunities for collaboration and relationship building with relevant Alumni startups, EIR (Entrepreneur in Residence) and startups that are part of T-Hub’s Community Membership. The program will conclude with a Demo Day during which startups will present their scaled-up solutions to investors, corporates, and mentors.
Another current batch startup Founder, Shravan Kumar Gajam, Founder of Weedeo said, “Through the Lab32 program, we expect to get guidance from the experts and mentors from the startup industry which will help us grow and build an actionable roadmap and be part of the startup community. We hope to achieve our goals and get clarity on how to find the Product-market fit, scale the product and acquire customers. Lab32 has created a wonderful opportunity to have a better journey for startups and make their dreams come true.”
The startups will continue to receive support even after the program ends by being part of the Alumni community which offers access to events, deals and tailored introductions. A few of the shortlisted startups are Aireal Automation Private Limited, AquaExchange Agritech Private Limited, Born Bright, HESA Global, HivedIn, NaPanta, Skill Monks, and Prednalytics Health Private Limited.
Thirteen startups from the fourth batch graduated in February 2021 and attracted interest from investors and corporates during the take off.
T-Hub (Technology Hub) enables and empowers an ecosystem hungry for innovation. Based in Hyderabad, India, it leads India’s pioneering innovation ecosystem that powers next-generation products and new business models. It uses the Triple-Helix model of innovation based on interaction and collaboration with the industry, academia, and the government.
Incorporated in 2015, it has provided 1100+ national and international startups with access to better technology, talent, mentors, customers, corporates, investors, and government agencies. T-Hub provides thought leadership for state and central government organizations to build innovation ecosystems. It has elevated innovation for leading national and global corporates, transforming enterprise business models.