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    Warangal gets its TiE, Angels chapter; SRiX opens incubator facility

    Synopsis

    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”.

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    “We are also in advance talks with three and four companies for setting up of their operations here and this should take the overall employment generation to 5,000 by the end of the year,” said Rao.
    HYDERABAD: 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.

    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 plans to incubate 40 start-ups in the fields of agriculture, artificial intelligence, internet of things etc., over the next five years.

    K.T. 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”.

    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.

    Warangal in the coming months will also witness the setting up of campuses of tech companies like Cyient and Tech Mahindra who are looking to generate a collective employment for 1,500 people.

    “We are also in advance talks with three and four companies for setting up of their operations here and this should take the overall employment generation to 5,000 by the end of the year,” said Rao.

    Telangana is looking to create a startup ecosystem in districts like Nizamabad, Karimnagar, Khammam, Mahabubnagar other than Warangal and is investing Rs 25 crore in each district besides attracting companies, he said.
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