ⓘ Featured Image: Ravi Narayan, CEO of T-Hub, addressing Lab32 startups; Credits: Supplied
Hyderabad, India-based T-Hub, an innovation intermediary and business incubator that leads India’s pioneering technology innovation ecosystem, on Tuesday, announced the launch of the fifth edition of its flagship pre-acceleration program Lab32 with the onboarding of 30 startups. The startups will receive goal-oriented consultation from leading experts on business goals like revenue growth, customer acquisition, market expansion and product roadmap.
The pre-acceleration programme will run until June 2021 and it will continue with its hybrid model, launched last year owing to the pandemic. Startups from various cities like Bangalore, Patna, Noida are part of the program along with startups in rural innovation space with social impact. The selected startups offer innovative solutions in key industries, such as Media, SaaS, Healthtech, E-Commerce, Drones, Social Commerce, Blockchain, Agritech, Rural Commerce, Robotics, Enterprise IT, Foodtech, Mobility, and Adtech.
Ravi Narayan, CEO of T-Hub said,
“Lab32, the pre-acceleration program 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 mentors, investors and corporates, government for mutual benefiting collaborations. Most of our alumni have contributed to our country’s economy by successfully expanding their business to global locations. We are confident that chosen startups from various sectors, particularly the ones from the rural innovation level, will make sizeable contributions to the economy and society.”
More than 300 startups from across the country applied for this batch, and the same were evaluated by the startup innovation team of T-Hub. The startups were further shortlisted through one-on-one connection, with T-Hub interviewing and educating them about the program. The startups were selected based on the technology component of the startup, their market readiness and the maturity of founders who had a clear business roadmap.
In the first month of the Lab32 program, T-Hub will conduct a pre-program 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 startup. The program will also include a series of workshops for marketing and product design tracks. The program in the end will assess the progress made by each of the startups based on the objectives set at the beginning of the program. Extended support with T-Hub team.
Additionally, Lab32 will be offering the startups various opportunities for collaboration and relationship building with relevant Alumni startups, EIR (Entrepreneur in Residence) and startups that are part of T-Hub’s Community Membership. The program will conclude with a Demo Day