Entrepreneurs need to be nurtured and motivated, says KTR

Hyderabad: IT minister K.T. Rama Rao described Hyderabad as the start-up capital of India and highlighted the successes of the state's start-up ecosystem, saying new initiatives in the city are creating solutions and products relevant for critical sectors such as aerospace and defence, in addition to IT.

Rama Rao, who inaugurated the The Indus Entrepreneurs (TiE) Global Summit (TSG) on Monday, outlined Telangana state's achievements since its formation and dubbed the state "India's most successful start-up”.

He claimed that while Hyderabad produced one-third of the world's vaccines, many of the world's largest corporations had their second largest campuses in the city. The event, a gathering of entrepreneurs, mentors and venture capitalists from across the world, will continue over two days on December 13 and 14.

While urging top technology company Adobe, whose CEO and chairman was present at the event, to consider expanding its presence in Hyderabad, Rama Rao joked, "I know you're going to Bangalore, but it's not going to be a breeze getting in and out of the city. Let us know if you need a chopper from the airport to the city, and Telangana will arrange it.”

Rama Rao remarked that entrepreneurs create economic value and must be motivated, cultivated, and nurtured to the greatest extent possible. "TiE has taken an active role in engaging with the Telangana Innovation Ecosystem, and TiE's assistance has been critical in assisting us in meeting our primary goal of developing best-in-class advisory services and resources for our entrepreneurs."

Shantanu Narayen, who grew up in Hyderabad, received the award for 'Best CEO of the Year' at the event. "The fact that TiE has created a three trillion-dollar economy, that they are creating one million startups by the end of the decade, truly reflects their passion to give back to the community," he said.

“With the confluence of technology, medicine, and education, there has never been a better time to be an entrepreneur. Never accept the status quo as an excuse not to pursue your dreams." The event was attended by TiE president (Global) Suresh Raju, chairman B.J Arun and vice-chairman Murali Bukkapatnam.