T-Hub's start-up funding programme 'T-Angel' offers investment up to Rs. 50L
T-Hub on Thursday announced the launch of its redesigned funding programme, T-Angel, to cater to the funding needs of start-ups amid the COVID-19 pandemic.
By Newsmeter Network Published on 17 Jun 2021 10:32 AM GMT
Hyderabad: T-Hub on Thursday announced the launch of its redesigned funding programme, T-Angel, to cater to the funding needs of start-ups amid the COVID-19 pandemic. T-Angel will be supported by Angel Investors who will collectively invest up to Rs. 50 lakhs in each of the qualified start-ups.
T-Angel is a 45-days acceleration programme and around 15-20 tech start-ups will be shortlisted. The programme for the second batch of selected start-ups will commence in July 2021. Start-ups will be shortlisted from applications received after an extensive screening process by a committee of investors and mentors, T-Hub said in a press note.
Applications will open on Thursday at https://bit.ly/3vzdbuq and close on 30 June. Start-ups across India can apply to be a part of the programme. The start-ups must meet the following eligibility criteria to apply: should be an early-stage start-up; should have a Market Viable Product (MVP) or prototype or have done a pilot; should be a company incorporated and operating in India; and should be a company that develops technology (software or hardware) or employs technology to change the way a traditional business or set of business operations is carried out.
Ravi Narayan, the CEO of T-Hub, said, "Even though there has been a substantial increase in start-ups' ability to raise funds, only a small percentage of them are successful in raising funding from angels. We realized that the success percentage can considerably increase if entrepreneurs are aware of what the angel investors are looking for. T-Angel's existence has been smartly tailored to solve this issue. T-Hub believes that there are plenty of technology startups that are investment-ready provided they learn the fundamentals from an investor perspective."
During the program, T-Hub will do an in-depth assessment of the start-up's business plan. Based on this, a customized work plan will be developed for each of the start-ups, with specific interventions following which the shortlisted start-ups will undergo intensive training of five online sessions of two hours each from subject matter experts/consultants who will help in making them investment-ready. T-Hub said. It added that the frequency of consultations will depend on various factors and will be jointly decided by the programme and participating start-ups.
A five-member investment committee will evaluate the selected start-ups and decide on the investments. For more information about the program, visit https://t-hub.co/T-angel/.
