6 months ago
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A Fund of Funds for startups successful Telangana, nether information for immoderate time, seems inching adjacent to fruition with a elder authoritative of the State authorities connected Tuesday hinting astatine the rollout successful January.
“We person decided to make a Fund of Funds of astir ₹1,000 crore to statesman with... [it] volition beryllium started determination successful January,” Special Chief Secretary to IT Department Sanjay Kumar said, pointing to the challenges startups look successful accessing funds.
Seeking to item however the Fund volition beryllium the latest successful the bid of measures of the State authorities to bolster the startup ecosystem, the elder authoritative said entree to concern would assistance spot the endeavor successful adjacent orbit. “It is simply a enactment successful progress... for this, we person partnered with 1 of the agencies. I volition spell retired the details soon,” helium added.
Mr.Sanjay Kumar, who was speaking astatine the lawsuit successful which IT Minister D.Sridhar Babu launched MeeSeva services connected WhatsApp, said Telangana startup ecosystem is looking guardant to initiatives for improving their entree to funds. For the government, the Fund volition physique connected the assorted different facilitating measures specified arsenic hand-holding and mentorship for the startups.
Startups moving successful the Artificial Intelligence (AI) abstraction volition beryllium focus, helium said, adding however specified an accent volition beryllium successful enactment with the State government’s aspirations to signifier Telangana into arsenic a starring AI hub globally. Apart from playing the relation of an enabler, forging partnerships with starring firms specified arsenic Meta, the authorities is imparting AI grooming to prime employees successful each its departments. The thought is to bid specified in-house exertion savvy staff, by roping successful starring firms, into ‘AI champions’ who past successful concern with startups germinate AI-enabled solutions, helium said.
