India, 25 February 2021: T-Hub, which leads India’s pioneering technology innovation ecosystem, today called for applications to the fifth batch of its flagship pre-acceleration program, Lab32. It comes after the successful closure of its third and fourth batch of 41 and 13 startups, respectively. Startups across India have been a part of this program and have raised INR 100Cr over the past 12 months.
The fifth batch of Lab32 will commence on 15 March 2021 with selected startups that bring in leading-edge solutions for industries, such as health-tech, fintech, smart mobility, sustainability and edtech, among others. Thirty to thirty-five startups will be shortlisted from applications after a focused and extensive screening process. Interested startups can apply on https://bit.ly/3dDtAZH or email [email protected]. Applications close on 6 March 2021.
The program will continue with its hybrid model launched last year owing to the pandemic. It will enable more entrepreneurs across India to participate in the program without the need for a physical presence in Hyderabad. Lab32’s modules will focus on helping the startups build better versions of products or discover and tap into market opportunities. This batch is looking to enable startups from tier 2 and 3 cities to position themselves for growth.
Ravi Narayan, CEO of T-Hub and Chief Innovation Officer of Telangana, said, “Lab32 is an exciting journey for T-Hub that has allowed the startups to push their growth boundaries and continue the innovation journey with their ventures. Startups in major sectors like healthcare, education, and smart mobility, among others, so far, have been benefitted from Lab32. The recent success of startups from the previous batch has inspired us further to continue the virtual pre-acceleration program. The fifth batch will focus on identifying startups that are most capable of accelerating India’s innovation quotient at a global level.”
The program will provide structured, meaningful, outcome-driven guidance by leading professionals on business goals like revenue growth, user acquisition, market expansion and product pipeline. The objectives will be set at the beginning of the program for each startup. The program will include a series of workshops for marketing and product design tracks, overlayed by one-on-one interactions with dedicated consultants and complemented by other sessions based on the needs of the batch. The program team will be closely working with the founders to ensure participation and provide support where necessary through alumni founders and peer connections. Some of the earlier participants will interact in the role of EIR (Entrepreneur in Residence). The program will conclude by assessing the progress made by the startups in achieving their respective business goals.
Post the cohort, the participants will be supported by the Community Team of T-Hub for three months.
The early- and mid-stage technology startups will be selected based on the following criteria:
- Development stage of technology product—prototype or completed.
- Customer validation or market acquisition stage.
- Revenue run rate or investment raised
- Qualitative aspects of founders
Lab32 became a virtual program during the pandemic, enabling startups to access various benefits for growth-oriented support, despite the industry slump. The selected startups offered innovative solutions in key industries, such as healthcare, food technology, HR, and enterprise SaaS solutions. The startups from the third and fourth batch underwent rigorous interventions by advisors, subject matter experts and mentors that helped them in product development and in creating a strong customer base.
Both the batches graduated after successfully participating in Lab32’s first-ever virtual demo day, ‘The TakeOff.’ On the demo day, each startup was allotted a seven-minute window to pitch their solutions or products to the investors, corporates, and government, along with other stakeholders. Startups were given the opportunity to network with corporates and investors like Factset, Mitsubishi, SucSeed Innovation Fund, Hyderabad Angels, StartupXseed Ventures, Chennai Angels, Windrose Capital, and Inflexor Ventures. The demo resulted in garnering interests from close to 18 investors for the startups which will result in fruitful collaborations and funding opportunities.
Here are some of the success stories:
- Amplify Infra, a prop-tech sector has onboarded 50+ contractors, 10 architects, 50+ merchants on its platform and has generated material sales revenue of over INR 200 lakh.
- Flytta, a logistics startup from the fourth batch, has bagged prestigious clients like Accenture, TCS, Infosys, and 10+ Fortune 500 companies. It has completed more than 1500 relocations and 10K IT Equipment moves in the last 18 months.
- LegitDoc, a blockchain-based solution for document management, has signed a contract with the Maharashtra Government to manage over 7 lakh academic certifications for the state university.
- Next Skills 360, an edtech startup, successfully conducted proof-of-concept projects with the government of Telangana. The startup is also gearing up for the launch of a subscription box on 1 March 2021, which has already generated pre-order interest.
- Another Lab32 startup, Opstech’s solution, has been tested and implemented in the cylinder manufacturing industry and incorporated as a mandatory clause in nation-wide LPG cylinder public tenders.
Testimonials from the previous batches:
Neil Kevin Martis, Chief Executive Officer of LegitDoc, said, “Lab32 has been a game-changing experience that has enabled us to streamline our marketing strategy and define a clear marketing roadmap for the upcoming 12 months. Moreover, Lab32 recommended us for the Government Startup Connect program, for direct procurement by the Government of Telangana. The opportunity has led to the School Education Department of Telangana showing interest in piloting our solution in the state and a likely collaboration with the government.”
Ranjith Dontamsetti, Founder and CEO of Opstech, said, “The Lab32 program was truly transformational for our startup. Lab32 gave us direction to our goals. I would urge every startup to apply for the program to accelerate their startup journey.”
Mohit Goel, Co-Founder of Pixxort, said, “There is never a time in our startup workplace when we do not feel ready to take on new challenges. This preparedness, learnings, frameworks, and agility is the outcome of the rigorous 4-month session at T-Hub’s Lab 32 program.”
Yeshwanth Reddy, Founder of Simply5, said, “Lab32 empowered us with structured tools. Founder sessions and consultants helped us validate our convictions and build an actionable roadmap. Though we missed the opportunity to collaborate and learn with our cohort in-person, the program was dense enough to keep us engaged throughout.”
Nikhil Reddy, Chief Technology Officer of Talentrackr, said, “The Lab32 program helped Talentrackr iron out its marketing and product road map strategies in a swiftly implementable way. In addition to that, the consultant sessions were soundboards for the ideas that we come up with constantly.”
Vishal Reddy, CEO and Founder, WOWSOME said, “WOWSOME was the first to qualify in the T-Hub’s Lab 32 program. In our early stage, it gave us instant access to all the resources we need like HR, financial advisory, and mentorship at a reduced cost. The program is designed to help startups, such as ours, incubate and fly ahead. WOWSOME raised angel funding and successfully graduated from the Lab 32 program in record time.”
T-Hub (Technology Hub) enables and empowers an ecosystem hungry for innovation. Based in Hyderabad, India, it leads India’s pioneering innovation ecosystem that powers next-generation products and new business models. It uses the Triple-Helix model of innovation based on interaction and collaboration with the industry, academia, and the government. Incorporated in 2015, it has provided 1100+ national and international startups with access to better technology, talent, mentors, customers, corporates, investors, and government agencies. T-Hub provides thought leadership for state and central government organisations to build innovation ecosystems. It has elevated innovation for leading national and global corporates, transforming enterprise business models.
For more information, visit www.t-hub.co