Telangana Government to setup 1 million square feet of space for Startups
Telangana Government will spend $300million (2000crore approx) to setup a 1 million square feet of infrastructure for startup available for next 5 years
Telangana Government has taken an important step in setting one of the biggest Startup hub in India. As per the IT policy by government they will setup an infrastructure space of around 1 million square fit a dedicated space for startups. The space will be offered for a period of 5 years.
The cost on the entire setup is around $300 million and the space will be capable of incubate around 5000 startups in the next 5 years. Such initiative by government will boost the startup eco system offering them a space to work and grow. This was passed in Telangana IT Policy 2016. It was introduced by Mr.K Chandrasekhar Rao, Honorable Chief Minister. The motive behind this new setup is to offer a open huge platform for startup ecosystem to grow and flourish.
This will led to a lot of benefits contributing to the growing economy. The goal is to help around 5000 startups to reach in the top list around the globe. US is the biggest hub today for Startup and India might lead the position in the next few years once such large infrastructure is established by the government. India is already in news for lot of new startups that are rising up. As per a report released by Nasscom, India is on the 3rd position after US and UK.
- Telangana Government aim to establish a 1 million square feet of startup infrastructure for Startups as per the IT Policy 2016.
- In the next 5 years the government aim to support 5000 startups.