Warangal district of Telangana State is fast catching up on the startup scene as it witnessed the formation of its local chapter of The Indus Entrepreneurs (TiE) and investor network Kakatiya Angels along with the inauguration of SR Innovation Exchange (SRiX), a technology business incubator on Monday.
KT Rama Rao, Minister for IT and industries, Telangana government, said, “This facility could be one of the largest incubators in tier-II regions and already has eight start-ups working out of it”.
While the structure and other modalities of TiE Warangal and Kakatiya Angels is being finalised, SRiX opened its incubator facility spread across an area of 1 lakh sft and plan.
SRiX won a grant of Rs 9 crore from the Department of Science and Technology (DST) after a fierce competition with other educational institutions like the National Institute of Technology etc., and the facility will have a total investment outlay of Rs 14-15 crore.
“Nationwide, nearly 130-150 institutions apply with DST for setting up of technology business incubator and typically 10-15 get it where SR Engineering college made the cut,” said Harkesh Mittal, advisor and head,National Science and Technology Entrepreneurship Development Board, DST.
SRiX has been up at the SR Engineering college campus, which is part of SR Group and runs educational institutions across Telangana and Andhra Pradesh.
