Confederation of Indian Industry (CII) is conducting a virtual conference on the investment opportunities in the state of Telangana. With over 100 companies, 40+ speakers and 100 exhibitors, this event is one of its kind in recent times. To register and join the event please visit the link below.
Link to register – CII: Make in Telangana
This collaborative initiative to support the startup ecosystem, will work with startups from several incubators and outside. A program for strategy rejig followed by pitch preparation for equity funding, debt or corporate market access will be provided. The initiative Re-jig.HydStartups is powered by incubators like T-Hub, CIE-IIITH, IKP, RICH and TiE among others.
Deepanwita Chattopadhyay, Chairman & CEO of IKP said, “This collective initiative will help startups in securing funding to tide over the crunch period”.
Startups from various domains will be enabled through domain-specific mentoring and market access. The sectors targeted are— EdTech, FinTech, FMCG, Manufacturing, Agri/Food tech, Med/Life sciences and Emerging technologies.
All the shortlisted startups will be given 3 weeks of mentoring to review their strategy and re-fine it to address present business climate and constraints, specifically identify promising domains and target companies, and revise the positioning and pitch.
The program will culminate in a massive pitch day event, with over 100 screened startups pitching for equity funding, collateral-free debt funding, or corporate market access. Leading companies in the targeted domains will be invited to review the startups and consider pilots.
Rejig.HydStartups applications are open now and due on July 20th. The program will run for four weeks, concluding with the demo days to investors and corporates in mid-August.
Sri Jayesh Ranjan, Principal Secretary IT&C said, “Very heartening to see the community of research incubators in the city, anchored by the State Innovation Cell, coming together to rally around promising deep IP startups.”
Government of Telangana’s vision is to become a leader in Emerging Technologies. To realize this vision, ITE&C Department of Government of Telangana has an Emerging Technologies Wing which enables an ecosystem for emerging technologies, and most importantly, leverages these technologies to develop innovative solutions for government departments.
Under the Blockchain District initiative, Telangana’s Blockchain project for administering Chit Funds in the state, T-Chits, has been awarded Gold in “Excellence in Adopting Emerging Technologies” for the 23rd National Conference on E-Governance 2019-20.
Chit funds are key instruments of financial inclusion in India. While Chit funds help people save money for their future needs, regulatory failures may cause millions of people to lose their life-time savings.
“The Blockchain-based platform will capture transactions, verify the data, enable smart and secure transactions to allow automated and trusted financial transactions between all parties,” said Ms. Rama Devi Lanka, Director Emerging Technologies & OSD, ITE&C Department, Government of Telangana.
T-Chits transformed the cumbersome process of monitoring Chit Fund transactions. The Administration issues with multiple unknown parties (Organizers, Subscribers, Regulators, Banks, Auditors and Third-Party Systems) are solved by bringing in Trust and Transparency through blockchain. The project has a massive impact. INR 18549.12 Cr+ of savings of 10,08,300+ subscribers(mostly from lower-income groups) are rotated per annum in Telangana alone.
“T-Chits is the perfect example of using cutting edge emerging technologies for social good. Kudos to Chitmonks, a Blockchain-startup incubated in T-Hub, for developing a scalable Blockchain solution, tailor-made to solve a major Indian problem,” said Mr. Jayesh Ranjan, IAS, Principal Secretary, ITE&C Department, Govt of Telangana.
T-Chits, Telangana’s blockchain project for administering chit funds in the States, has received the gold award in ‘Excellence in Adopting Emerging Technologies’ during the 23rd national conference on e-Governance 2019-20 held at Mumbai on Saturday. Union Minister of State for Prime Minister’s Office Jitendra Singh presented the award to Rama Devi Lanka, director of Emerging Technologies and officer on special duty for the ITE&C department.
Telangana has been focusing on developing a vibrant ecosystem for key emerging technologies. We have leveraged these technologies to improve citizen service delivery and to solve pain points within government departments. T-Chits is one such achievement of the state, wherein a blockchain-based platform will capture transactions, verify the data, enable smart and secure transactions to allow automated and trusted financial transactions between all parties involved in Chit Fund businesses across Telangana, said Ms. Rama Devi Lanka, Director Emerging Technologies & OSD, ITE&C Department, Government of Telangana.
A project of the Blockchain District state initiative, T-Chits has transformed the cumbersome process of monitoring Chit Fund transactions by bringing in Trust and Transparency through Blockchain. The project has a massive impact. INR 18549.12 Cr+ of savings of 10,08,300+ subscribers (mostly from lower-income groups) are rotated per annum in Telangana alone.
“T-Chits is the perfect example of using cutting edge emerging technologies for social good. Kudos to Chitmonks, a Blockchain-startup incubated in T-Hub, for developing a scalable Blockchain solution, tailor-made to solve a major Indian problem,” said Mr. Jayesh Ranjan, IAS, Principal Secretary, ITE&C Department, Govt. of Telangana.
