T-Hub on Tuesday announced the launch of the fifth edition of Lab32, its flagship pre-acceleration programme under which 30 startups will receive goal-oriented consultation from leading experts on business goals like revenue growth, customer acquisition, market expansion and product roadmap.
T-Hub is a startup catalyst established in November 2015 as a public-private partnership between the Telangana government and three premier academic institutes - International Institute of Information Technology-Hyderabad (IIIT-H), Indian School of Business (ISB) and National Academy of Legal Studies and Research (NALSAR).
T-Hub CEO Ravi Narayan said, "Lab32, the pre-acceleration programme, aims at preparing startups for rapid growth, making them investment ready. The idea is to increase and strengthen India's innovation ecosystem, connecting entrepreneurs to each other and to the mentors, investors and corporates for mutual benefiting collaborations."
Startups from cities like Bengaluru, Patna and Noida are part of the programme along with startups in the rural innovation space with social impact. The selected startups offer innovative solutions in key industries, such as media, SaaS, health tech, e-commerce, social commerce, Blockchain, agritech, rural commerce, robotics, enterprise IT, food tech, mobility, and adtech.
More than 300 startups from across the country applied for the current batch, and were evaluated by the startup innovation team of T-Hub. The startups were selected based on their technology component, market readiness and the maturity of founders who had a clear business roadmap.
In the first month of the Lab32 programme, T-Hub will conduct a pre-programme assessment to understand the requirements of the startups in detail, followed by consultant connections. The startups will then undergo rigorous training and consultation sessions by professional trainers, advisors and subject matter experts, based on the needs of the startups. The programme will also include a series of workshops for marketing and product design tracks.
The pre-acceleration programme will run until June 2021 and will continue with its hybrid model launched last year owing to the Covid-19 pandemic.