You have to rightly say that you can ask yourself: "What's next?" Is the startup industry experiencing a plateau or would there be a slump?
Ravi Narayan, CEO of T-Hub, refused to think of such opportunities at all. When he got into the mix, he already had some ideas of where the future of T-Hub would be. “Not only in India, but in all parts of the world, we have created an innovation infrastructure that is second to none. Because the state not only has an infrastructure for T-Hub, but also for several other organizations, e.g. as Telangana State Innovation Cell, RICH (research and innovation group of Hyderabad), We-Hub (an exclusive innovation center for women), T Works, TASK (Telangana Academy for Skill and Knowledge) and other companies we are affiliated with. It was a huge incentive for us to move from 400 startups since T-Hub started to more than 2,000 startups in just four years. "
Quality not quantity
For Ravi, it is not only the number of startups that is important, but also the quality. These ecosystems take a while to stabilize and then build on a solid foundation. At this point, T-Hub supporters had to show a widespread sense of inspiration among young people who did not know that such support was available. In this way, T-Hub differs from other such units. Some dealt with incubation, but T-Hub went beyond the corporate innovation code.
- The second phase of T-Hub is running in the Raidurg area near Ikea and Novartis. The upcoming center will initially house more than 1,000 startups and claims to be the world's largest 3.5 lakh square foot incubator on three acres of land. According to the T-Hub team, the cost of this project is £ 276 million.
The needs of startups and the ecosystem have naturally evolved, says Ravi, who took over the position of former CEO Jay Krishnan in January 2019. "We had to switch from incubation to acceleration, so we took larger startups that had matured over the past four years, either because of us or independently, and gave them a way to stay in the Hyderabad ecosystem. so they didn't have to go to Bengaluru, Singapore or the United States. Ravi continues: “Next, we also showed a way to involve other people who raised money and put our arms around them. However, we have also created a department for start-up innovations that integrates and works on start-ups in a different way in their entire lifestyle. "
Corporate innovations are also important for Ravi's roadmap for the future of T-Hub. As the technology landscape changes rapidly, it is of crucial importance for him to deal with these changes. This collaboration and innovation can take between 18 and 24 months. Then T-Hub started to bring more high-ranking people into their circle to keep the change going. "In this way, we are not just evangelists, we actually deliver very specific results to ecosystems." One of these results is obviously scaling.
What about values? Given the rapid technological development, should startups be patient? "An entrepreneurial journey is not easy to reproduce. Startups are breaking new ground to solve the same problems so that everything is different. We encourage many entrepreneurs to remain true to the principles of doing business to meet the needs of their customers or consumers We also have an alumnus program where people come back and can also rethink new principles. ”
Ask Ravi about the possibility that a startup is no longer sustainable and needs to be shut down, and he smiles. As a serial entrepreneur, he understands that based on his previous experience, he has “more scar tissue on his back”, which influences his current and future decisions. “We are proud not only to be an accelerator to generate success, but also to generate failures. Because if people are on the wrong path and their business models are fundamentally flawed, they will only get along and they will be fine. In addition, many first-time entrepreneurs have problems with the question: "What does the company want compared to what we want?" However, many do not when they have to quit their full-time job and I cannot give them a formula. It is ultimately a very personal decision. "
Ravi believes it has been a fruitful journey to work with T-Hub and its constituents, who continue to make the state a strong symbol of progress.