T-Hub, which leads India's pioneering innovation ecosystem, today called for applications for the third batch of Lab32, a comprehensive incubation program, tailor-made for early-stage tech product startups. The third batch of Lab32 will commence from 1 December 2019, and the call for applications begins today. Interested startups can apply here.
The third edition of Lab32 will focus on leveraging the power of the in-house team. The ecosystem of alumni, mentors, industry experts and investors will help the new batch to accelerate growth and achieve their respective goals. Some of the most innovative startups from industries such as Healthtech, Fintech, Smart Mobility, Sustainability, Social Impact, Smart Cities, Edtech, among others, will be shortlisted from hundreds of applications. The shortlisted startups will receive peer mentoring from successful entrepreneurs of T-Hub's alumni batch and an opportunity to explore strategic collaborations with T-Hub's partners that will help them scale with speed.
Ravi Narayan, CEO, T-Hub, said, "Telangana and Hyderabad have established itself as a thought leader by building a unique innovation ecosystem for India. T-Hub, with its strategically designed programs, have contributed to building this reputation. Lab32 is one such program that enables and empowers startup entrepreneurs and provides them with a unique and perfect mix of capabilities like market access platform, strong mentor network, deep understanding of technology and research. The program will also help them connect with their prospective customers who can help them scale rapidly."
To meet the minimum eligibility criteria of the program, the early-stage tech product startups should have:
- Initial market traction
- An exceptional founding team
- Seed funding to pre-series 'A' funding or bootstrapped
- Solution for, but not limited to, healthcare, finance, education, smart mobility, sustainability, social impact, and smart cities, using technologies like artificial intelligence, machine learning, deep learning, augmented reality/virtual reality/extended reality, blockchain etc.
- Commitment to work from the T-Hub facility full time for six months or more
The final set of chosen startups will receive a host of benefits to ensure their strategic growth, including:
- Workshops and seminars from senior corporate executives/CXOs and serial entrepreneurs
- Curated playbooks and mentoring by industry experts
- One-on-one interactions with our dedicated pool of mentors, investors and partners
- Exclusive and pre-curated deals from T-Hub's premium service providers like Amazon Web Services, DigitalOcean, Freshworks, Google Cloud, HubSpot, IBM, Microsoft, Zoho, etc.
- Access to the catalyst-building facility 24/7 during the program
Sanjay Kuberkar, Co-Founder, Schrocken, a startup from the current Lab32 batch, said, "We entered the cohort as an early-stage startup with our product still in the works, and just one customer signed up. Over these past 10-12 weeks, we have been making rapid progress, with a substantial contribution from Lab32 team".
Lab32 was launched in 2018, and the first batch of Lab32 startups have created over 2000 jobs and raised over Rs 112 crore in total during the incubation program. For the second batch of Lab32, T-Hub shortlisted 45 startups from over 500 applications received from across the world.