T-Hub Inks MoU with NALSAR to Provide Legal and Regulatory Support to its Startups

MOU Signing image

● The MoU will foster a collaborative ecosystem for T-Hub startups to provide legal and
compliance support to entrepreneurs.
● The partnership will be executed by CLEAR (Centre for Law, Entrepreneurship and Action
Research), an entity of NALSAR (National Academy of Legal Studies and Research University of
Law)
● CLEAR will train the startups on the legal front and guide them on regulatory areas that
implicate their businesses.

India, 30th October 2019: T-Hub, which leads India’s pioneering innovation ecosystem that powers nextgeneration products and new business models, today signed an MoU with NALSAR. NALSAR is research and consultative agency that uses the law as an instrument of social change and supports the creation of an ethical, legal culture. The MoU will be implemented by CLEAR, an entity of NALSAR that enables entrepreneurs to generate business models by providing a broad-based legal and commercial foundation. Under the MoU, NALSAR will provide T-Hub startups with a legal and compliance framework. It will guide and support entrepreneurs in registering their entities in the initial stages, structuring transactions, complying with regulations, filing taxes, handling closures, entering into contracts and dealing with legal intricacies. Also, the startups will get advisory and consultancy services on a case-to-case basis from subject matter experts at T-Hub and NALSAR.

Ravi Narayan, CEO, T-Hub, said, “Entrepreneurs need to ensure that they invest enough time and resources at all times to eliminate avoidable legal risks to their promising startups. This aspect is as important as developing a viable business plan or hiring a great team. Ignoring it can lead to legal hurdles that can quickly derail a startup even before it starts reaches its full potential. T-Hub’s partnership with NALSAR will make sure startups get guidance throughout their journey from setting up the corporate entity, to setting up foreign entities, to creating the right relationships between those entities, to intellectual property rights (IPR) protection, and to putting the right shareholders agreements (SHA). We are excited that we can bring world-class experts from NALSAR to work with our startups.”

Professor Faizan Mustafa, Vice – Chancellor, NALSAR, noted, “The foundation of business is law. Startups are, in fact, legal entities just like any other business entity with identified purpose. It is important for businesses to understand and operate within the provisions of law to avoid losses. Be it contract or intellectual property, tax or consumer protection, law is an enabler of commerce. Through this partnership, both NALSAR and T-Hub, through this partnership, shall endeavor to provide startups, founders and entrepreneurs, a platform that is legally sound and commercially viable.”
Under this agreement, T-Hub will provide office space for CLEAR members to function a helpdesk out of T-Hub. Through this helpdesk, T-Hub will be able to provide a platform to startups that will engage with the NALSAR and CLEAR teams on business managerial, legal and regulatory matters.

T-Hub and CLEAR will organise seminars, workshops and interactive sessions for startups to train them in
the following legal areas:

● Dealing with the protection of intellectual property rights for innovative solutions and
associated technology
● Understanding the importance of data security and the implications of failing to protect data
● Raising investment and understanding the legal, commercial, financial and strategic aspects of
foreign investment in various sectors.
● Dealing with human resources-related issues arising within a business environment
● Raising investment and understanding the legal, commercial, financial and strategic aspects of
foreign investment in various sectors
● Creating awareness of corporate/legal lifecycle issues
● Creating awareness of founder-related issues
● Creating awareness of sector-specific issues

The MoU was signed today by Ravi Narayan, CEO, T-Hub, Prof Faizan Mustafa, Vice-Chancellor, NALSAR and Member of Board of Directors at T-Hub and Dr Pinaki Nandan Pattnaik, Head, Centre for Management Studies, NALSAR.

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 over 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 NALSAR
National Academy of Legal Studies and Research (NALSAR) was established in 1998 by Statute (Act 34 of 1998). It is Accredited in ‘A+’ grade with a score 3.60 on a four point scale by NAAC and features in the top 3 education institutions in India as per the National Institutional Ranking Framework (NIRF) rankings released by Union Human Resources Development ministry. Similarly, NALSAR is consistently rated among top two law schools in India since 2010 by India Today & Outlook Magazine)

About CLEAR
As a research and consulting center of NALSAR, CLEAR is envisaged as an array of interventions (research and consultative) geared towards creating an impact on the entrepreneurship environment in India. It also aims at enabling entrepreneurs by providing a broad-based legal and commercial foundation for developing successful and impact-generating business models. CLEAR aims to facilitate entrepreneurs with critical enablers to support their transition from concepts to commercially viable businesses creating positive and sustainable impact through knowledge, skills and expertise to foster enterprise creation and growth.