Economic growth: Kanwal Rekhi to launch `Rural Entrepreneurship and Startup Centre' in North Telangana

Telangana: Silicon Valley entrepreneur Kanwal Rekhi pledged to invest Rs 20 crore to establish the `Kanwal Rekhi Rural Entrepreneurship and Startup Centre' (KREST) to stimulate economic growth in North Telangana.

KREST, a 10,000 square feet state-of-the-art building, will be part of Kakatiya Hub (K-hub), a social innovation hub led by Kakatiya Sandbox, a non-profit organization that works to empower local communities in and around Nizamabad, Telangana.

Kanwal was the first Indo-American Founder and CEO to take a venture-backed company public on the NASDAQ who also co-founded and helped build TiE into the largest global network of entrepreneurs. The funds will be used to promote and scale up rural entrepreneurship programs in India.

The mission of KREST is to build a strong rural entrepreneurship ecosystem where entrepreneurs can test their ideas, build successful ventures, and scale.

Raju Reddy, Co-founder of Kakatiya Sandbox (KS), believes, Kanwal's contribution will energize Kakatiya Sandbox to expand its agricultural, skilling, startup, and micro-entrepreneurship programs by leveraging rural India's large pool of talented youth. Additionally, he hopes Kanwal's this contribution will help North Telangana become a stronger economic force.

"KREST will support mission-driven entrepreneurs solving problems in agriculture, healthcare, education, and rural livelihood. KREST has the potential to be a model for other parts of rural and semi-urban India, and Kanwal's significant contribution has the potential to be transformative," says Raju Reddy.

Kalvakuntla Taraka Rama Rao (KTR), Telangana, Minister for Municipal Administration hoped that the center will boost the economic growth of the state. "I am confident that KREST will become a thriving center for innovation and entrepreneurship in Telangana. It is also well-positioned to become a gateway for entrepreneurs from the rest of India looking to solve rural India's problems. I am overjoyed that Kanwal Rekhi chose Telangana to launch KREST. Indians have raised the bar in the US and built great prosperity through entrepreneurship," KCR says.

"We want a similar movement in India to build an ecosystem that will support 10 million entrepreneurs by the time India turns 100 in 2047. Furthermore, I believe that India has the potential to become the world's breadbasket. To achieve that goal, an entrepreneurial infusion of technology and techniques in this sector is required. Hopefully, the Kakatiya Sandbox will validate this concept and serve as a model for others," Kanwal says.