Hyderabad-based T-Hub, which is leading India`s pioneering innovation ecosystem has announced the launch of its redesigned funding program- T-Angel. T-Angel will aid the startups funding needs amid the COVID-19 pandemic.
This funding program will be supported by various angel investors who will invest collectively up to INR 50 Lac in each startup that will be qualified for this program.
T-Angel is a 45 –days acceleration program for which around 15-20 startups only with innovative and leading-edge solutions in the various sectors will be shortlisted. The program for the shortlisted chosen startups will then begin in July 2021.
The process of shortlisting startups involves inviting applications after an extensive screening process by a 5-members committee of mentors and investors. The program will emphasize understanding and resolving two pain points of a startup that are the major roadblocks and hindering the chances of raising capital.
A customized framework and plan would be developed for each of the startups with specific interventions. Subject matter experts will also assist the startups to come up with a more refined business plan and an investor pitch deck. The committee will then evaluate the startups and will decide on the investments, which is up to INR 50 lakh for the qualified startups, in three tranches.
According to Ravi Narayan, CEO, T-Hub, “T-Angel’s existence has been tailored to solve the issue of entrepreneurs’ awareness of what the angel investors are looking for. T-Hub believes that there are plenty of investment-ready technology startups, provided they learn the fundamentals from an investor’s perspective.”
Any startup across India can apply to be a part of the program as the applications are opened on 17 June 2021 Thursday. The last day for sending applications is June 30, 2021.