The IIIT-H incubator for start-ups, the Centre of Innovation and Entrepreneurship (CIE), completed a decade on Friday. Speaking at a celebration to mark the occasion, IT secretary Jayesh Ranjan said, “While it is impressive that the CIE is focussing on deep technology, there is a need to do solid work to ensure Hyderabad becomes a start-up city.”
He said there were 36 incubators and co-working spaces in Hyderabad, which was the largest in the country. “The CIE should play a prominent role in uplifting the remaining 35 and helping the startup eco system,” Mr Ranjan said.
Apart from deep technology, Centre of Innovation and Entrepreneurship has planned to focus on blockchain as Ripple, which connects banks, payment providers, digital asset exchanges and corporates, is invested in research at the Indian Institute of Information Technology-Hyderabad.
The CIE has physically incubated more than 200 start-ups, invested Rs 3 crore in 30 start-ups and engaged 17 with the IIIT-Hyderabad research labs. These start-ups have raised funding of Rs 50 crore from external sources and have generated more than 1,200 jobs.