Hyderabad: T-Hub has forged a strategic partnership with the La Trobe University of Australia that will provide the selected startups with access to Indian customers, new business opportunities and a deeper understanding of the innovation ecosystem in India.
T-Hub in partnership with La Trobe University has selected two growth-stage Australian startups for the second stage of the Global Market Accelerator Program.
The Global Market Accelerator Program is designed to help Australian startups grow, launched by La Trobe University in five countries, and is funded by AusIndustry, Victoria State Office.
AusIndustry is the Australian Government’s principal agency for delivering assistance, programs, and services that support industry, research, and innovation. T-Hub was chosen as the program partner for the Indian market access to startups. The program consists of an online ‘feasibility study’ for eight weeks and a six-month incubation in innovation hubs like T-Hub for international experience.
The program for Indian market access started its first phase with the selection of four startups Trainer, TBH Pets, Anidra, and Tekuma for the eight-week market feasibility study. These four startups were chosen after a rigorous evaluation process by subject matter experts from T-Hub and La Trobe University. The selection criteria included the evaluation of technology, market demand, problem statement and solution, and the traction received in Australia.
These startups committed two-three hours per week for the program which included mentoring sessions on how to localize their product along with the Go-To-Market sessions to build the operations plan for the next six months of the second stage. In the fifth week, a mid-review on the startup progress was conducted.
After eight weeks of interventions, a panel of mentors from T-Hub and Australia selected two startups Anidra and TBH pets for the second phase of the program.
In the second phase, T-Hub will execute the acceleration program for six months and the startups will need to undergo intensive training. It will provide soft-landing measures such as mentoring, co-working space, and product analysis to adapt the product or solution to the local market and establish strong connections with the customer and the investment community.
Ravi Narayan, CEO of T-Hub and CIO, Telangana, said, “Despite the ongoing pandemic, the startups across the globe have not given up on their strategies to expand in other geographies. Interestingly, India is rapidly becoming one of the top picks for international companies to set up shop. Hyderabad is playing a major role in attracting not only larger brands but also startups to India owing to Telangana state’s reputation on ease of doing business, extended support, and the world-class level of infrastructure.”
“We at T-Hub understand the need and value of smart international innovations and have always been striving to help them settle their business in our country. T-Hub’s partnership with La Trobe is an important milestone in the growing collaboration in innovation between India and Australia, which will only strengthen in the times to come,” he added.
Kerala Tanasescu, director, La Trobe Regional Accelerator said, “This is a fantastic program that will enable Australian start-ups to showcase their innovation and capability to an increasingly important and exciting market.”