T-Hub Announces the Success of Five Startups from its Incubation Program Lab32 on World Entrepreneurs’ Day3 weeks ago Ravi Korukonda
- The second batch of Lab 32 startups showcase business growth by bagging MoUs with the government and corporates, raising a new round of funding by acquiring new customers
- T-Hub connected these startups to corporates, the government and investors to develop their business models and enable their products to be market-ready
T-Hub, which leads India’s pioneering innovation ecosystem. It today announced the success of five startups from the second batch of its incubation program Lab32 on World Entrepreneurs’ Day. The announcement highlights startups that scaled up in the April-June quarter and made the most of the opportunities via Lab32.
Lab32 was launched in 2018, and the first batch of Lab32 startups created over 2000 jobs and raised over Rs 112 crore during the incubation program. For the second batch, T-Hub shortlisted 45 startups from over 500 applications received from across the world.
On World Entrepreneurs’ Day, T-Hub also conducted a panel discussion on the topic ‘Life of an entrepreneur: Highs and Lows’. The panel was moderated by Ravi Narayan, with celebrated city entrepreneurs, such as M. Yeshwanth Nag, founder of Thickshake Factory; Ashok Reddy, Founder of GrabOn; and Anu Acharya, founder of Mapmygenome, as panellists.
Ravi Narayan, CEO of T-Hub, said, “As we celebrate World Entrepreneur’s’ Day, we are proud to acknowledge young entrepreneurs in Hyderabad who are scaling up despite the challenges and risks in their sectors. It is their hard work and undying passion to innovate and set up successful enterprises that is a driving force for T-Hub as well. We are happy to offer the right opportunities and provide an innovation-driven environment for all our startups”.
The success of five startups, based on their performance in the April-June quarter, is highlighted here:
- Concent Solutions provides accessible and affordable healthcare through Digital Health. It entered into a tri-party MoU as a technology partner with MGHN (Mass Gathering Health Network), a UK-based social enterprise, and Help Hyderabad, to work on health issues at mass gatherings. The partnership was awarded a pilot project from the Telangana State Haj Committee to undertake health screening for over 3500 Haj pilgrims in 2019. It successfully completed the health screening using Concent’s Healpha, a connected health platform. Healpha was also awarded the Telangana government minority school’s health check-up. Concent successfully screened 25,000 children, making a good impact by identifying health issues early and enabling both prevention and cure.
- Param.ai acquired new clients after it joined the Lab32 program. It successfully signed a multi-year contract with enterprise companies like Indigo airlines, Emerson and Practo. These companies use the startup’s recruiting platform and its AI capability to discover, engage and hire candidates. The startup recently raised a second round of funding from Aecal.de (German VC) and angel investors like Rajesh Sawhney (Founder, GSF Accelerator; Cofounder, Inner Chef and Healthy. in).
- StaTwig, signed an MoU with UC Berkeley Smart Village Movement (SVM) and the Arunachal Pradesh Government to track vaccine inventory, vaccine quality and immunisation coverage in the state. The startup is deploying a blockchain-based vaccine supply chain in Arunachal Pradesh with the help of UC Berkeley’s SVM. It will help the Arunachal Pradesh Government reliably track the distribution of vaccines and evaluate their program efficacy. It will enable UC Berkeley’s SVM in its mission to capture data, knowledge and expertise from academic, industry and public sector collaborators to resolve rural challenges. With the help of the RICH team at T-Hub, StaTwig hopes to deploy similar solutions in Telangana and other states as well.
- TV2Z raised $430k in a new round of funding from VB ventures, Netherlands. This new funding will help the startup build a platform where every company can start its own OTT VOD platform instantly. The fund will also be used to grow its employee base globally to accelerate its worldwide expansion. Recently, TV2Z partnered with Youku Tudou Inc., a leading entertainment and media company, to launch its content in Europe.
- Wearberry Soft Solutions India Pvt. Ltd was empaneled as a vendor by TCIL (Telecommunications Consultants India Limited) and AI fintech modules of the company have also been whitelisted by YES Bank. They have been awarded for their innovation CIRAD – a portable IoT Fintech network switch that can work even in regions of low Internet connectivity at the 27th Annual HYSEA Awards 2019. CIRAD has wide applications in the areas of rural banking and digitalization.
T-Hub, since its inception in 2015, has incubated 457 startups and over 60 international startups. Out of the 457 startups incubated so far, 54 startups have reached a mature stage. T-Hub will continue to provide startups with mentorship and connect entrepreneurs to experienced industry leaders, corporates and governments to scale their entrepreneurial ventures.