In today’s digital age, it would be short-sighted if entrepreneurs were to limit their vision for their company to include only the clustered local ecosystem. Increasingly, startup founders are adopting a global mindset to navigate the complex business terrain that is fraught with a multitude of challenges. Leaders should broaden their horizons and seize new opportunities for growth outside their home markets to run a successful startup that assumes a global identity. It would be possible only if they get out of their comfort zone and display ingenuity in exploring innovation ecosystems beyond geographic boundaries.
On World Entrepreneurs Day, we focus on how, by adopting a global mindset, T-Hub and its dynamic ecosystem of startups are scripting their success stories and transforming the fabric of Telangana’s innovation landscape.
A magnet for foreign startups
Telangana’s ecosystem thrives on the synergistic collaboration among startups, corporates, investors, academia and policymakers. Its maturing ecosystem that offers world-class solutions in Artificial Intelligence (AI), DeepTech, HealthTech, FinTech and Internet of Things (IoT), among other domains, has become a fertile ground for foreign startups to explore and establish their presence. T-Hub forms the epicenter of this landscape, fostering a robust culture of entrepreneurship and innovation that transcends geographic boundaries.
In recent years, T-Hub has emerged as a front-runner on a global scale. It has attracted foreign startups to Telangana to tap into the rich resources and support mechanism needed to adapt their business for the local Indian market. As an innovation enabler, we aim to support such startups to realise their global ambitions and become a bridge between overseas and home markets.
We recognise the value-add that foreign startups bring to Telangana’s innovation landscape.
For example, T-Hub has partnered with Hiroshima Prefectural Government to aid next-generation leaders to leverage cutting-edge technologies to find solutions to industry-specific problems. The collaboration seeks to be mutually beneficial to both ecosystems, and the participating startups will be exposed to the cross-pollination of ideas and cultures to seize new opportunities for scaling their business.
Finalist of T-Hub and Hiroshima Prefecture’s Road To Shine program
T-Hub has also partnered with Korea SMEs and Startups Agency (KOSME) to enable early-stage South Korean startups to access the Indian market and onboard new customers. T-Hub has also launched the ‘Global Market Accelerator Program’ to enable Australian startups to access the burgeoning Indian market that has diverse audience segments.
T-Hub: A springboard for going global
At T-Hub, we don’t have a myopic vision to scaling the ecosystem. We don’t believe that entrepreneurs should be restricted to innovation hubs bound by geographic boundaries. Instead, we prepare our homegrown startups to adapt to the rapidly changing business world and leave a mark on the global map. Since we live in an interconnected world that values the concept of ‘global citizenship,’ the startups we nurture must also look beyond their backyard to build companies that will solve problems for the global market.
T-Hub enables startups to build an international presence. . Moreover, we are proud that many of our startups are taking advantage of the global opportunities that are available in today’s shifting business environment. For example, StaTwig, a T-Hub-incubated tech startup, has partnered with the LACChain Alliance to deploy its blockchain-based solution to track the COVID-19 vaccine’s distribution process and ensure the quality and effectiveness of deployment across Latin America and the Caribbean.
Stay nimble; stay alert
It’s a given that the competition in the global landscape is only going to intensify for startups. We advocate that businesses think globally and act locally when planning their expansion strategy. The enhanced access to global markets should motivate startups to focus on the demand for innovation in different regions and economies and build their growth strategy accordingly. Entrepreneurs should sustain their long-term growth by being continuous learners and embracing the diverse cultural influences they encounter.
T-Hub is paving the way to create new innovation pathways for both homegrown and foreign startups. Entrepreneurs must adopt an innovative and flexible approach to doing business that will expand the scope of their business strategy and propel them towards making an impact.
If a global mentality is adopted right from the start, the startups in our vibrant ecosystem will power ahead and conquer new frontiers of innovation.
T-Hub’s international programs aim to help startups scale globally through various programs, by partnering with global ecosystem players from several geographies. We enable both Indian and international startups accessing Indian and other emerging geographies. Get in touch https://bit.ly/2Wc1fTX.
