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Technology business incubator launched in Telangana

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IANS  |  Hyderabad 

SR Group on Monday launched technology business incubator SRiX in Telangana's Warangal town.

SRiX (SR Innovation Exchange) has come up over an area of one lakh square feet at SR Engineering College (SREC) campus. The facility is supported by the Department of Science & Technology (DST), Government of India, to accelerate the start-up eco-system.

Inaugurated by Telangana's Information Technology Minister K.T. Rama Rao, SRiX is built for start-ups from all over the country to nurture innovative ideas into successful companies, with a focus on agriculture, clean tech, Internet of Things (IoT), hardware and related cutting-edge technologies.

It is equipped with business-friendly workspaces, IoT workshop, and prototyping facilities. In the first year, SriX will incubate 40 promising start-ups and help them create an impact. In the next five years, SRiX expect to add and create enormous high-value businesses and entrepreneurs.

The Minister stated that SRiX is probably the biggest in a Tier II city. He also said this is the first Incubator that hosts a Maker and Prototype space.

He also commended the SRiX for launching the facility with eight start-ups. He assured that the government will extend all their support for the growth of startups by being the first customer.

SRiX also announced cooperation agreement with Warangal Chapter of The Indus Entrepreneur (TiE) and Kakatiya Angles, who were also launched on Monday.

Harkesh Mittal , Head - Innovation, Entrepreneurship and Tech. Commercialisation, Department of Science and Technology (DST), Government of India, said that the role of DST will be to extend financial and networking support for SRiX.

Varada Reddy, Chairman of SR Group, said the initial focus at SRiX will be in the field of agriculture, manufacturing, management of energy, water and waste, inclusive growth cantered rural empowerment, education, and IoT.

Sreedevi Devireddy, CEO of SRiX, said their goal is to build the largest cluster of high-growth, high-value enterprises.

SRiX Board of Advisors includes Harkesh Mittal, Head - Innovation, Entrepreneurship, and Tech. Commercialisation, DST, GOI; Ravi Tyaagi, MD & CEO, SIDBI Venture Capital Ltd; Dr. Sridhar Condoor, Chairman - Aerospace & Mechanical Engg, St. Louis University, USA; Ashish Despande, Co-founder, Elephant Design; and Ashwin Mehta, Faculty, University of Massachusetts.

--IANS

ms/nir

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, March 06 2018. 00:34 IST
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