Telangana’s startup ecosystem builder T-Hub and Korea SMEs and Startups Agency (KOSME), an initiative of the Ministry of SMEs and Startup of South Korea, on Tuesday announced that they have shortlisted 10 early-stage South Korean startups for the Startup Accelerator 2020 market access programme.

The startups will benefit from new business opportunities, market understanding, access to customers, and a deeper understanding of the Indian market. The partnership will create ample opportunities for startups to scale up in the Indian market.

Startups accepted in the programme will also receive guidance from T-Hub through a rich curriculum of activities, specifically designed to help the startups explore business opportunities in the Indian market. T-Hub will execute the acceleration programme virtually in view of the pandemic, and the startups will undergo intensive training for two months.

In addition, the startups will undergo various online workshops/webinars, mentor hours, founders’ talk, interventions and sessions with subject matter experts and mentors of T-Hub.

“The need of the hour for the startups across the globe is to swiftly adapt to the new changes and seize the unique opportunities presented by the pandemic. We not only support these deserving startups but also ensure that all the stakeholders benefit from the program. The startup Accelerator program has been designed specifically for South Korean startups to help them establish a firm foothold in the Indian market. T-Hub will be acting as their partners to support and guide them. T-Hub’s collaboration with KOSME will provide international market access to South Korean startups and facilitate connections with key stakeholders. We look forward to seeing their success in India.,” Ravi Narayan, T-Hub CEO, and Telangana’s chief innovation officer stated.

One beauty Korea (dental implants), A-virtual, Honour Farm, LabSD, Letsfarm, Braincolla, Coconut Silo, L’air Pur Co., Ltd, TAGHIVE Inc, and Korean Aviation Lights are shortlisted for this programme.

Jung Hwan Moon, KOSME chief representative India said, “T-Hub being the main driver of this programme, I strongly believe that this two-month intensive training will help the startups to build a strong foundation for their business in India.”

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Rejig.HydStartups, an initiative chaired by Telangana State Innovation Cell (TSIC) and T-Incubators & Enablers to support startups in reimagining and repositioning their business model post-pandemic has received more than 300 applications and 100 startups have been selected to be part of the mentoring program.

The initiative looks forward to impacting startups from domains such as Lifesciences, fintech, manufacturing, agriculture, Fast Moving Consumer Goods, and emerging technology.

This is a three-week mentoring program to help startups connect with investors or gain corporate market access, will see a three-pronged approach, understanding the concerns of the startup with completion of leg work assigned by the mentor, understanding the change of strategy, and a revised pitch.

The program will culminate in an event where the startups will pitch for equity funding, collateral-free debt funding, or corporate market access.

A webinar involving ecosystem catalysts organized recently was aimed to understand the impact of the pandemic on the startups and expectations from the founders, to become resilient.

Reflecting upon the inclusive approach taken by T-Incubators & Enablers, Jayesh Ranjan, IAS, Principal Secretary Telangana Government during the meetup, said, “I am happy to say that Hyderabad today will be standing out for its “City as a Whole Approach” through its most important initiative Rejig.HydStartups to support the startups in the coming weeks to become resilient post-pandemic. Even the applications that we received was a truly relevant mixture of industry sectors that require immediate attention.”

A panel discussion was held during the webinar involving Ravi Narayan, CEO of T-Hub & CIO of TSIC, Sridhar Pinnapureddy, Founder Chairman of CtrlS Datacenters, currently the President of TIE Hyderabad, Sateesh Andra, Managing Director of Endiya Partners, is an established VC and investor.

The panel was moderated by Deepanwita Chattopadhyay, CEO of IKP Knowledge Park. The speakers gave their experiential insights and urged the startups to relook at their business models and be willing to reimagine during this crisis.

As mentioned by the panelists, some of the steps founders could take ranged from, identifying the alternate market for the existing product or service, rationalizing the product or service, smart cost optimization, to look out for answers by discussing with the customers, mentors, and investors.

One of the important mentions by all the panelists towards betterment was the Founders’ Resilience. The fact that the investments largely are done based on the strength of the business model and quality of the Human Capital. Deepanwita of IKP during the meetup added that it is a great opportunity not just for startups but also for the Incubators & Enablers to collectively contribute to the startup ecosystem in the times when mentor access is important for founders to get a sounding board.

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