Hyderabad-based startup incubator T-Hub has partnered with inQ Innovation, a global open innovation ecosystem headquartered in Sydney, Australia with operations in India. Both organisations have joined hands to provide Indian growth-stage tech startups with business opportunities, market understanding and access to customers in Australia.
In addition, this collaborative partnership would also enable soft landing /launchpad capabilities for Australian startups to explore and launch into the Indian markets.
T-Hub’s CEO Ravi Narayan signed the MoU with inQ Innovation Global’s CEO and Director Irfan Malik at Consulate General of India, Melbourne, to facilitate and support Indian startups with the right resources, market opportunities and connections to foray into the Australian market aligned across industry sectors, while offering Australian startups a platform that enables these organization’s entry into the Indian market.
T-Hub will now roll out a call for applications for startups across India looking to scale into the Australian market based on the specific industry segment and problem statements. The selected startups will bag scale-up opportunities and get access to world-class infrastructure office space at inQ innovation at the Sydney Startup Hub in Sydney or at the Space Station Office in Melbourne and other cities across Australia. They can explore business growth and collaboration opportunities with prospective customers and other ecosystems in the Australian markets.
Ravi Narayan, CEO, T-Hub said, "Our idea behind partnering with inQ is to create an umbrella of opportunities for Indian growth-stage innovative startups to scale up in the international markets. Additionally, international startups will have a platform for seamless entry to the Indian markets, which will bring more technological advancements to our country. T-Hub's collaboration with inQ is in the right direction to provide Australian market-access to the most disruptive and deserving startups."
The startups will also get to validate their products and solutions and strengthen their business models and expansion strategy. They can explore the Australian market landscape through mentors, industry experts, subject matter experts and investors.
Also, T-Hub will offer reciprocal services to the Australian startups interested in exploring business scaling and investment opportunities in India. The partnership also aims to enhance the global competitiveness amongst Indian and Australian startups to drive innovations within the Asia-Pacific region and cater to broader global markets.
Irfan Malik, CEO, inQ Innovation said ”I believe this partnership with T-Hub will add significant value to the startup ecosystem here in Australia and will provide local startups with a great launch-pad and collaborative relationship with potential partners in India and to validate and scale their solutions globally. In addition, this partnership will help accelerate, generate further momentum and deliver substantial outcomes under the “Australia India Innovation Bridge” program. An ongoing program of activations and cohort exchanges focused on sector-specific opportunities across both these countries have been planned and will be executed with various Ecosystem partners.