Hyderabad: Rejig.HydStartups, an initiative by Telangana State Innovative Cell (TSIC) along with T-Incubators and Enablers , has selected 100 startups for the large-scale mentoring programme.
The Initiative which supports startups in reimagining and repositioning their business model post-pandemic has successfully received more than 300 applications from diverse sectors and different stages which included Corporate Access and Investor Connect, a release from TSIC said here on Monday.
The initiative looks forward to impacting startups from the domains— Lifesciences, Fintech, Manufacturing, Agriculture, FMCG and Emerging Technology.
A webinar involving ecosystem catalysts, recently was organised to understand the impact of the pandemic on the startups and expectations from the founders, to become resilient.
Reflecting upon the inclusive approach taken by T-Incubators and Enablers, Telangana Principal Secretary (IT) Jayesh Ranjan, said, “I am happy to say that Hyderabad today will be standing out for its — City as a Whole Approach — through a this most important initiative Rejig.HydStartups to support the startups in coming weeks to become resilient post-pandemic”.
The webinar also saw a panel discussion involving T-Hub CEO Ravi Narayan and TSIC CIO Sridhar Pinnapureddy, Founder Chairman of CtrlS Datacenters, currently the President of TIE Hyderabad, Sateesh Andra, Managing Director of Endiya Partners, is an established VC and investor.
Panel was moderated by IKP Knowledge Park CEO, Deepanwita Chattopadhyay .
The speakers gave their experiential insights and urged the startups to relook at their business models and be willing to reimagine during the toughest crisis.
Some of the steps founders could take, as mentioned by the panellists ranged from, identifying the alternate market for the existing product or service, rationalising the product or service, smart cost optimisation, to look out for answers by discussing with the customers, mentors, and investors.
One of the important mentions by all the panelists towards betterment was Founders’ Resilience, the fact that the investments largely are done based on the strength of the business model and quality of the Human Capital.
Deepanwita , during the meetup, said that it is a great opportunity not just for startups but also for the Incubators & Enablers to collectively contribute to the startup ecosystem in the times when mentor access is important for founders to get a sounding board.
Rejig.HydStartups spread out in three-weeks of mentoring to help startups connect with investors or gain corporate market access, will see a three-pronged approach— understanding the concerns of the startup with a completion of leg work assigned by the mentor, understanding the change of strategy, and a revised pitch.
The program will culminate in a massive pitch day event where the startups will be pitching for equity funding, collateral-free debt funding, or corporate market access.