New Delhi, February 3, 2024: Innovation hub T-Hub has partnered with Bala Vikasa, a community development innovator, to foster innovation, address grassroots challenges, and drive large-scale social impact.
A Memorandum of Understanding (MoU) was signed between the two parties at the Social Start-up Expo organized by the Bala Vikasa Center in the presence of Duddilla Sridhar Babu, Minister for IT & EC, Industry and Commerce, Telangana Government.
The collaboration aligns with the imminent plans of the Telangana state government to unveil a new Micro, Small, and Medium Enterprises (MSMEs) policy. With a deliberate emphasis on intertwining social entrepreneurship within this policy framework, the government aims to fortify Telangana's position as a central hub for social innovation and entrepreneurial growth in the foreseeable future.
According to T-Hub officials, the partnership between Bala Vikasa and T-Hub will be instrumental in realizing this vision, focusing on Social Innovation, Frugal Innovation, and Rural Innovation, with the shared goal of transcending urban boundaries and making an impact in rural spaces.
Under this partnership, T-Hub is set to provide robust support to startups, offering specialized capacity-building programs in collaboration with Bala Vikasa to elevate skills and knowledge. Additionally, the collaboration formalises Bala Vikasa as a valued Program Partner and signifies a strategic commitment to mentorship and knowledge exchange initiatives.
T-Hub will further facilitate Market Access Support by Bala Vikasa, empowering startups within T-Hub programs, streamlining market access, and creating pivotal opportunities for pilot projects. The collaboration also envisions the Cross Utilization of Infrastructure, marking a shared commitment to maximizing operational efficiency and fostering innovation in India's dynamic startup ecosystem.
Anthony Anish, Chief Operating Officer, T-Hub, expressed enthusiasm about the collaboration, stating, "As T-Hub embarks on this transformative partnership with Bala Vikasa, we are dedicated to fostering startups that make a tangible impact. Our commitment is to build a new vertical with a strong focus on rural, social, and frugal innovation. We aim to support promising innovations that cater to untapped rural markets and address 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, said, "While we will be working on multiple activities in the realm of capacity building, mentoring, knowledge development, and ecosystem-strengthening in the coming days, we will be supporting the social business accelerator program by T-Hub immediately."
Till now, T-Hub has nurtured nearly 110 social impact startups. Among these success stories are Banyan Nation, a pioneer in plastic recycling with a unique circular economy approach; Donatekart, revolutionizing crowdfunding with a focus on transparency; Financepeer, providing crucial support for education payments during the pandemic; and Kisanwala, a digital agri marketplace empowering farmers.
T-Hub (Technology Hub) is an innovation hub and ecosystem enabler. Based out of Hyderabad, T-Hub is the world’s largest innovation campus. Over the six years, T-Hub has pivoted around the 6Ms (Mentors, Market, Motivation, Manpower, Money, Methodologies) and 2Ps (Partnerships & Policy advisory) framework with a mission of driving results and collaboration for entrepreneurs’ success. With its impressive track record of nurturing over 2,000 startups, 150 mentors, 350 corporate partners, T-hub’s startups have raised a remarkable $1.9 billion in investments. It has delivered 100+ innovation programs so far, creating an impact for start-ups, corporations, and other innovation ecosystem stakeholders.
