Hyderabad-based T-Hub on Thursday announced the launch of its funding programme T-Angel, a joint venture with Telangana government, to empower and enable early stage investment ecosystem through angel investments.
T-Hub is an initiative of the state government for startups. T-Angel will be executed by T-Hub and online investment platform LetsVenture, an official release said.
CEO of T-Hub Ravi Narayan said,
"T-Angel is a joint initiative by Telangana government and T-Hub to create a robust investment ecosystem for the state. The programme will speed up startup collaborations with investors across the world with support from LetsVenture.”
T-Angel is a three-month investment acceleration programme where as many as 30 startups with the cutting-edge solutions in healthcare, real estate, entertainment, sports, education, and finance will be shortlisted. The top 10 startups out of the 30 per batch will receive funding. The 10 shortlisted startups will be listed on LetsVenture’s investment platform, which has helped over 190 startups raise over $85 million in the last six years.
The programme for the first batch of chosen startups will commence on October 20, it said. T-Hub aims to secure investments for a minimum of 10 startups per batch, and four batches and 40 startups per year.
Jayesh Ranjan, Principal Secretary Industries and IT, Telangana State, added,
“The quantum of funds received by startups in Telangana has grown significantly, we now see this only increases with the quality of startups the state has gathered. Now is the right time to attract global VCs and angel investors, and ensure both startups and investors progress. T-Angel is an initiative in that direction. T-Hub will be leading this programme, which is the first phase of a series of funding-focused programmes by the government that will boost the investment ecosystem in Telangana.”
Applications will open on August 29, 2019, and close on September 30, 2019. Interested startups can apply here.
(Edited by Teja Lele Desai)