T-Hub Opens Doors to Australian Market for Indian Startups by Signing MoU with inQ Innovation
- Under the MoU, startup exchanges between the Indian and Australian innovation ecosystems will be initiated.
- T-Hub will call for applications for startups across India.
- The selected tech startups will get access to the Australian Markets.
T-Hub’s CEO Ravi Narayan signed the MoU with inQ Innovation Global’s CEO and Director Irfan Malik at Consulate General of India, Melbourne, to facilitate and support Indian startups with the right resources, market opportunities and connections to foray into the Australian market aligned across industry sectors, while offering Australian startups a platform that enables these organization’s entry into the Indian market.
T-Hub will now roll out a call for applications for startups across India looking to scale into the Australian market based on the specific industry segment and problem statements. The selected startups will bag scale-up opportunities and get access to world-class infrastructure office space at inQ innovation at the Sydney Startup Hub in Sydney or at the Space Station Office in Melbourne and other cities across Australia. They can explore business growth and collaboration opportunities with prospective customers and other ecosystems in the Australian markets.
Ravi Narayan, CEO, T-Hub said, "The Australian startup ecosystem is one of the most exciting and vibrant in the Asia Pacific. Our idea behind partnering with inQ is to create an umbrella of opportunities for Indian growth-stage innovative startups to scale up in the international markets. Additionally, international startups will have a platform for seamless entry to the Indian markets, which will bring more technological advancements to our country. T-Hub's collaboration with inQ is in the right direction to provide Australian market-access to the most disruptive and deserving startups."
The startups will also get to validate their products and solutions and strengthen their business models and expansion strategy. They can explore the Australian market landscape through mentors, industry experts, sector peak bodies, subject matter experts and investors. Also, T-Hub will offer reciprocal services to the Australian startups interested in exploring business scaling and investment opportunities in India. The partnership also aims to enhance the global competitiveness amongst Indian and Australian startups to drive innovations within the Asia-Pacific region and cater to broader global markets.
Irfan Malik, CEO, inQ Innovation said ”I believe this partnership with T-Hub will add significant value to the startup ecosystem here in Australia and will provide local startups with a great launch-pad and collaborative relationship with potential partners in India and to validate and scale their solutions globally. In addition, this partnership will help accelerate, generate further momentum and deliver substantial outcomes under the “Australia India Innovation Bridge” program. An ongoing program of activations and cohort exchanges focused on sector-specific opportunities across both these countries have been planned and will be executed with various Ecosystem partners.
The Australian market is poised to be one of the leaders of the startup and innovation ecosystems across the Asia Pacific. Last year, Australia leapt forward six places to become the fifth most startup- friendly country in the world.
About T-Hub: T-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 between 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 also provides thought leadership for Telangana and other state and central government organisations to build innovation ecosystems. It has elevated innovation for leading national and global corporates, transforming enterprise business models for the better.
About InQ: inQ Innovation Global with Headquarters in Sydney, Australia and with branch offices currently in India, offers an open global innovation eco-system offering incubators for start-ups, co-working spaces for early-stage innovative companies and provides a unique global innovation bridge and launchpad activities for its start-up eco-system. inQ Innovation focuses on harnessing international collaboration across broad and vibrant sectors and has set up and incubated several start-ups across Sydney, Dubai and India. In its continued efforts to build stronger Innovation Bridge programs between Australia and India and supporting the Startup/Innovation Eco-System, inQ Innovation also seeks to contribute to the achievement of sustainable development goals in the global startup ecosystem.