Telangana’s startup ecosystem and entrepreneurship has received global accolades. The 2020 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network has put the State among the top 30 Global Ecosystems for Affordable Talent in 2020 and Hyderabad is among the Top 100 Emerging Ecosystems Ranking in 2020 and Startup Genome evaluated about 300 ecosystems globally.
The release also states that Telangana’s pool of innovation hubs and startup support organisations are cited as the reasons for the startups to move to Hyderabad. Its strengths include Life Sciences, AI, Big Data and Analytics and the State has created $759 million in ecosystem value with $65 million in total early-stage funding over the last 2.5 years, the report said. “Telangana has built a strong startup base over time, and Hyderabad alone houses over 4000 startups. Known for its IT reputation, Telangana’s innovation and tech ecosystem has enormous potential to redesign the economy nationally and globally,” it added.
The GSER is the world’s most comprehensive and widely-read research report on startups. Out of the 300 ecosystems that were studied, a Global Top 30 Ecosystems ranking and a Top 100 Emerging Ecosystems ranking were drawn up. In May, T-Hub and Startup Genome announced that they would foster Telangana’s innovation ecosystem and showcase success stories of the state’s entrepreneurs.
T-Hub, CEO and Telangana’s Chief Innovation Officer Ravi Narayan said, “We are proud that Telangana is among the top startup ecosystems in the world. Over the last five years, Hyderabad has emerged as a startup hub, and the city has seen a growing push towards new-age technology startups. Along with T-Hub, the Telangana innovation network partners, such as TSIC, WE Hub, TASK, RICH, and T-Works are actively working towards strengthening Hyderabad’s innovation ecosystem in India and the world.”