Bangalore, Hyderabad to create 40L startup jobs by 2020

Bangalore, Hyderabad to create 40L startup jobs by 2020

The two southern states are vying for the spot of the top startup and innovation hub of the country, and announcing major initiatives to encourage entrepreneurs 

With the intention of boosting the global image of Bangalore and Hyderabad as global startup and innovation hubs, the Karnataka and Telangana governments announced various initiatives recently. This move is expected to generate about 40 lakh jobs by 2020.

The difference lies in the approach of the two state governments. While Telangana is focusing on promoting innovation and hence start ups by roping in established educational institutions, Karnataka plans to implement their plan via collaborations with Industry associations.

Karnataka

The government announced the setting up of a 50,000 sq ft warehouse NextGen facility, in partnership with NASSCOM to house and integrates India’s first Hack-celerator, a unique combination of a hackathon and an accelerator.

This facility is expected to house an `Internet of Things labs’, Design Centers of Excellence, Mobile Devices Lab to name a few.

“We propose to set up a 50,000 sq.ft `start-up warehouse’, India’s first ever hack-celerator and an ‘Internet of Things’ Lab,” said R Patil, minister for IT, BT, Science & Technology and Planning & Statistics, Karnataka. “It will be one of the first few in the world to be developed in association with NASSCOM and a few big global and Indian IT majors.”

When ready, it is expected to be a one-stop-shop hub where technology entrepreneurs with innovative ideas will be nurtured, mentored and funded by venture capitalists.

A similar move that was implemented by Karnataka in 2013 in the form of the `First Start-Up Warehouse’ spread across 10,000 sq ft, also developed in partnership with NASSCOM, reported impressive results in a short time. The facility resulted in about 28 start-ups and brought in over $1 million of investment in less than a year.

Telangana

This new state plans to develop India’s biggest incubation hub to be launched in Hyderabad by 2014-end or early next year.

The Telangana government plans to develop the hub in collaboration with established educational institutions in the state like the International Institute of Information Technology (IIIT) Hyderabad, Indian School of Business (ISB) and the NALSAR University of Law.

Expected to be set up in the IIIT campus, the T-Hub when ready will be a facility spread over 80,000 square feet and is expected to house 400 start-ups.

While the ISB is expected to provide business mentoring, IIIT expertise will be tapped for technology mentoring while NALSAR is expected to contribute towards help in intellectual property and other related areas.

“Through the incubation centre, we want to give a platform to the youth who have innovative ideas. We don’t want aspiring and budding entrepreneurs to be bogged down with legal, accounting, office space management, mentoring support and funding,” said K. Tarakarama Rao, minister, Information Technology, Telangana.

In phase II the government plans to develop a larger standalone facility, with about 3 lakh sq ft area, to house 1,500 companies. The aim is to bring all start-up programmes under one roof to ensure infrastructure, support services and funds for all startups.

Jobs generated

With the vision to make their respective states the innovation and start-up capital, the governments’ plan to attract angel investors and venture capitalists through regular investment meets.

“By 2020 between the two states one can expect development of about 40 lakh jobs including ancillary, support and back up services required to sustain and develop these hubs,” says Kishor Jagirdar, managing director, Infopace Management Pvt Ltd  and  a key figure in promotion and mentoring startups in Karnataka.

With the two south Indian states vying for the spot of the top startup and innovation hub of the country, clearly the one benefiting is the tech job hunter and budding entrepreneur.

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