Hyderabad: Hyderabad’s start-up incubator T-Hub is looking to set up a health tech accelerator, to mentor and fund 10-15 innovations, in May this year. In fact, over the next one year, it would also open three other accelerators, for Internet of Things, agritech and B2B companies.
“The healthtech accelerator will be the first one among four to open in April-May. Shortlisted companies in lifesciences and health tech will have a structured program to meet product, market and revenue validation. Also, investors would put in money,” said Jay Krishnan, chief executive officer of T- Hub at the BioAsia 2016 summit on Wednesday.
The accelerator would be named ‘T-Hub Health Tech Innovation Accelerator’ and will be set up in partnership with Merck and Microsoft Ventures. The accelerator will execute a steady growth plan based on experimentation and metrics. The start-ups will receive mentorship from domain experts and will be connected to a platform to receive investment from institutional ventures.
“At any given point there would be just one accelerator at T-hub. So every quarter one accelerator would complete a program and then the next would begin working,” Krishnan said.
T-Hub, a public-private partnership initiative spread across 70,000 sq.ft, so far has hit 75% of the co-working and full space facilities. Of this, 5-10% are life sciences and health companies.
“We have 1,600 more applications and are not able to keep pace with it. But somewhere we have to draw a line so we will be filtering from 1,600 and not take any more applications,” Krishnan said.