Hyderabad: Telangana government-led incubator T-Hub on Tuesday said, it has entered a partnership with UK-based cross border innovation fund Pontaq, which invests in early stage tech businesses in UK, USA, Canada and India, to support tech-driven Indian start-ups and create a holistic innovation ecosystem in the country.
T-Hub said as per the agreement, it will provide Pontaq office space at its new building, while Pontaq will become T-Hub’s investment partner in the UK-India corridor and will help T-Hub incubated start-ups expand into UK markets.
While T-Hub and Pontaq will work to expose technologies and products developed by innovative start-ups from both countries for cross-border innovation and deal flow, the partnership will also provide Pontaq’s investee companies in India and UK an opportunity to set up operations in Telangana.
Pointing out that he was impressed with the speed at which the Telangana government facilitated the entry of Pontaq and two of its portfolio companies, Myneibo and Maxbyte Technologies, into Telangana in just six weeks, Pontaq managing partner Prem Barthasarathy said, the fund has already invested in four companies in Telangana with plans to invest in at least five more companies before year-end.