Hyderabad's start-up scene is poor, given its potential. Despite institutions like T-Hub, WeHub, TS Innovation Council (TSIC) and other government-funded incubators in the city, the start-up scene hasn't picked up pace in the last few years. This is what a report published by Deccan Chronicle today says.
The report quotes some hard numbers to drive home the point that the funding has been inadequate and the rise of unicorns in Hyderabad has been almost non-existent. "As of April 30, 2023, Telangana had 5,157 start-ups, which is far lesser than what Maharashtra, Karnataka, UP, Gujarat, Tamil Nadu and even Haryana had," the report says
The DC report, quoting an expert, further says, "In the last three years, Hyderabad-based start-up companies raised $765 million through 126 funding deals." This is far less than what other cities like Bengaluru could achieve. Hyderabad houses just three unicorns, while Bengaluru has 45.
Reacting to the report, a business analyst named Vijay Reddy T wrote, "What a wasted opportunity for the people of Hyderabad! Mere tall and luxurious infrastructure at some selective locations doesn't make Hyderabad a progressive IT city. (sic)."
