Tata Sons chairman emeritus Ratan Tata and state governor ESL Narasimhan inaugurated the first phase of T-Hub, a start-up incubator build at a cost of Rs 40 crore in Telangana.
The incubator is located at the International Institute for Information Technology (IIIT) at Gachibowli, Hyderabad, spread across 70,000 sq. feet area. The T-Hub can accomodate around 300 start-ups and seat up to 800 employees. The Indian School of Business, International Institute of Information Technology (Hyderabad) and National Law University, Nalsar, are also associated with the T-Hub.
Speaking on the occasion, Ratan Tata said that "the T-Hub was the new face of India".
Addressing a press conference thereafter, the former chairman of Tata Sons said "India was not recognised as an enterprising country in technology. It is time we unleashed the Indian tiger. We need to support start-ups with all our resources. I will be there to support the young engineers and scientists."
Nasscom chairman BVR Mohan Reddy who is also on the board of directors of T-Hub, present at the event said, "This is the biggest start-ups incubator in the country. We, at Nasscom, would work with it to bring in the benchmark ecosystem."
Ratan Tata highlighted that medical and healthcare - related technological breakthroughs would present the next wave of opportunities for the Indian start-ups.
"To me the next exciting thing on the horizon is likely to happen and different from the one which we are seeing in India is the likelihood of medical breakthroughs because of start-ups in computing and in writing algorithms and analytics basically. The whole area of biotechnology and of course life sciences stems cells and thinks like that. So I see great deal of breakthroughs in treating diseases hitherto is fatal or had not cured. And I think that is going to be worldwide in this decade." said Ratan Tata.
However, he was quick to add that, the present technologies would not become obsolete with the new technologies coming in.