T-Hub announces 2nd batch of funding for startups

Hyderabad: T-Hub, which leads India's pioneering innovation ecosystem, on Thursday announced the launch of its redesigned funding programme T-Angel to cater to the startups funding needs amid the Covid-19 pandemic. T-Angel will be supported by angel investors who will collectively invest up to Rs 50 lakh in each of the qualified startups.

T-Angel is a 45-days acceleration programme for which 15-20 tech startups with the leading-edge solutions in the various sectors will be shortlisted. The programme for the second batch of chosen startups will commence in July 2021. Startups will be shortlisted from applications received after an extensive screening process by a committee of investors and mentors. Applications will opened on Thursday, and will close on 30 June. The programme will focus on understanding and resolving two key constraints or pain points of a startup's business operations that are hindering their chances of raising capital. Startups across India can apply to be a part of the programme.

"Even though there has been a substantial increase in startups' ability to raise funds, only a small percentage of them are successful in raising funding from angels. We realized that the success percentage can considerably increase if entrepreneurs are aware of what the angel investors are looking for. T-Angel's existence has been smartly tailored to solve this issue," said Ravi Narayan, CEO of T-Hub, said.