Govt hopes for 50 unicorns emerging in TG

Hyderabad: Telangana IT & Industries Minister D Sridhar Babu on Thursday said that efforts were underway to see 40-50 unicorns emerging from the State.

Speaking at the inaugural session of the three-day International Startup Festival (ISF), he said: “Most innovators struggle to find the right market or struggle to scale up. We wish to create a suitable infrastructure to help startups find the right market in India and overseas”.

We are creating an AI City to build an ecosystem to propel growth. We want to make Telangana the global AI capital. We will soon be setting up a skill university to train people in the new technologies like AI to support the mission, he added.

He lauded efforts of JA Chowdary, founder of International Startup Foundation, which is organising the startup festival.

“The festival is a great initiative by JA Chowdary, who has a great passion, interest and resolve to bring about a IT revolution in India. He has introduced us to a new concept of junicorns after unicorns and soonicorns, where ISF is encouraging next generation of innovators”.

Srini Raju Chintalapati, Chairman of iLabs Capital, and Vice-Chairman, Telangana Young India Skills University, on Thursday said the true spirit of entrepreneurship is on display at the International Startup Festival (ISF).

He said rural entrepreneurs, who put up stalls at the festival showed remarkable enthusiasm. “We need that kind of enthusiasm to succeed in the entrepreneurial world. It’s truly inspirational,” he said.

BVR Mohan Reddy, Chairman, Cyient, said India would need 50,000 startups every year to find solutions to the problems that the country would face.