Telangana's steadfast commitment to fostering a robust startup ecosystem has been recognized with the prestigious "Top Performer" position at the DPIIT State Startup Rankings 2022 & National Startup Awards 2023. The accolade was bestowed during a distinguished felicitation ceremony held on National Startup Day in New Delhi, in the esteemed presence of Shri Piyush Goyal, the Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles.
The Department for Promotion of Industry and Internal Trade (DPIIT) organised the fourth edition of the State Startup Rankings, aiming to strengthen the collaborative efforts of States and Union Territories in developing comprehensive and flourishing startup ecosystems. The State Startup Ranking Framework 2022, a rigorous and results-driven strategy, evaluated responses from 33 states and Union territories under five categories — best performers, top performers, leaders, aspiring leaders, and emerging startup ecosystems.
Telangana's recognition as a “Top Performer” stem from its multifaceted initiatives, including the establishment of a proactive mechanism for holistic institutional support, development of inclusive policies and schemes for entrepreneurs among SC/ST, differently-abled persons, and women, creation of the "Impact Fund" focused on rural and social enterprises, and provision of financial assistance to early-stage startups through "T-Seed Fund" and "T-IDEA".
The State has been acknowledged as a capacity-building pioneer, a funding leader, a sustainability promoter, an innovative leader, and an institutional champion. The Telangana startup ecosystem enablers, including T-Hub, TSIC, T-Works, WE HUB, RICH and TASK, have played a pivotal role in the success of the state's startup initiatives. Noteworthy contributors to the ecosystem include Mahankali Srinivas Rao, CEO, T-Hub, Anand Rajagopalan, CEO, T-Works, Rashmi Pimpale, CEO, Research and Innovation Circle of Hyderabad (RICH), Dr. Shanta Thoutam, Chief Innovation Officer, Telangana) and Prannay Kumar Nalla, Head of Government Innovation, Telangana State Innovation Cell (TSIC), whose efforts have played a vital role in driving startup growth in the state.
Jayesh Ranjan, Principal Secretary, Department of Information Technology, Electronics & Communications (ITE&C) and Department of Industries & Commerce expressed," Telangana's recognition as a 'Top Performer' in the DPIIT State Startup Rankings 2022 is a testament to our thriving ecosystem. With a focus on inclusivity, innovation, and sustainable growth, we are charting a path where startups flourish, entrepreneurs thrive, and technological advancements benefit every stratum of society. This acknowledgment reinforces our commitment to building an ecosystem that embraces change as well as shaping a future where Telangana stands as a beacon of innovation and opportunity for all.
Mahankali Srinivas Rao (MSR), CEO, T-Hub, said, “Telangana's recognition as a 'Top Performer' is a testament to our state's unwavering commitment to fostering innovation, inclusivity, and sustainable growth. T-Hub, along with other key enablers in the Telangana startup ecosystem, has played a pivotal role in our success. This recognition is an affirmation of the collaborative efforts of dedicated entrepreneurs, mentors, partners, and stakeholders who have been integral to this transformative journey. As we chart this path of success, T-Hub remains committed to building an ecosystem that fosters innovation as well as creates boundless opportunities. Together, we are shaping a future where Telangana stands tall as a symbol of innovation and progress for the entire nation.”
Shanta Thoutam, Chief Innovation Officer of Telangana, said, “Telangana’s achievements in fostering a robust and inclusive startup ecosystem are a testament to our unwavering commitment to driving positive change and creating boundless opportunities for entrepreneurs. This award is not just a recognition; it's a celebration of the tireless efforts of every startup, mentor, partner and stakeholder who has been an integral part of this transformative journey. Together, we are strengthening an ecosystem where innovation thrives, and the success of one resonates as a collective achievement for all."
The State Startup Ranking Report highlights several accomplishments, including the registration of 1800+ startups, of which 300+ are women-led with special incentives. Additionally, 375+ startups have market access opportunities, 550+ startups received incubation support, INR 5 Cr+ disbursed to 100+ startups, 550+ startups incubated under SRF 2022, 100+ startups connected with 60+ State-registered mentors, and 65+ startups enrolled in an acceleration program.
This latest recognition follows T-Hub's triumphant 2023 win and its previous success, where it emerged victorious among 55 other incubators at the national level, securing the Best Technology Incubator in India award from DPIIT, Ministry of Commerce and Industry in the previous year.