Telangana Government to Award "Entrepreneur-in-Residence Certificate" to those Startups, who try unsuccessfully their entrepreneurship journey and want to leave it mid way and explore some other alternative opportunities including a job: Jayesh Ranjan, IT Secretary

February 3 2016,  15.01 PM IST || Pocket News Alert

Hyderabad, February 03, 2016....Telangana Government to Award "Entrepreneur-in-Residence Certificate" to those Startups, who try unsuccessfully their entrepreneurship journey abd want to explore some other alternative opportunitites including a job. This certificate will help to fill the gap in their career journey and help strengthen their resume when they go for a job, informed Jayesh  Ranjan, Secretary of Information and Technology, Government of Telangana while participating in a "Panel Discussion on "Growth of Indian Startups" here in city at HICC on Monday night.

Jayesh Ranajan was a Chief Guest at the launch of Spark 10, India's first European Accelerator.

Participating in the Panel Discussion along with Jon Bradford who is consideered as God Father' of Startup Accelerator UK; Manish Kumar of crowd Funding Platform GREX and Atal Malviya, Founder of Spark 10, who is also founder of VC funded Data Analytics companies Odimax and Concept Analytics and addressing 300 plus who is who of Startup Community in city at HICC, Jayesh said we know Startup journey is very tough. All those get into ecosystem with idea may not successfully turn into a profitable company. There may be pitfalls. If any stage Startup in T Hub want to stop their journey and want to go back to job or alternative employments, government wants to go to their rescue by issuing them "Entrepreneur in Residence Certificate", to told the gathering. All the certificate means is that he or she tried their best to convert their idea in to an execution, but without success.  We would like to make a suggestion  in the IT Policy about it he disclosed.

This is only applicable to those startups who are in T-Hub.  Our people in the incubation center validate your project, recommend for such a certificate.  This will remove and fill in time gaps on the same, he said.

There is another interesting dimension to the Entrepreneur-in-Residence(EIR).  They are generating buzz now. They are "hired to bring the entrepreneurial perspective to corporate execs who may not truly know about entrepreneurs," . Many established corporate are looking for those EIRs whose experience will help the company immensely. These EIRs take entrepreneurial mindset to the corporate world, which not many executives in large organization know what they don’t know about entrepreneurs.  EIR is already a newest job title in the tech community. They are new ambassadors for investors and large organizations now. EIR is a win win for both Startups and large business houses.

Speaking further Jayesh Ranjan added that T-Hub has a 100 seater exclusively for Accelerators.  He invited Spark 10, the just launched India's first European Startup Accelerator to be part of the T-Hub.

I was in Nizamabad, a Tier II city, where i addressed 1000 people, most of them are social enterprises.  The Startup Culture is spreading fast to Tier-II and Tier-III cities.  We just have 300 people in this hall, but, Nizamabad we had 1000 of them, which shows how much people are interested in entrepreneurship.

We want to encourage all of them. If such people come to Hyderabad for next level of their entrepreneurship  journey, Accelerators like Saprk 10 must be in Position to help them, he said.

Jayesh Ranjan further added that IT Dept in Telangana and T Hub enjoy competitive advantage in some niche verticals like IT, Animation, Gaming, Defense, Aerospace etc.  He appealed to Spark 10 to support these niche areas and asked them to work in tandem with T-Hub. He also said Govt and SPARK10 should work in collabrative partnership to help entrepreneurs.

During the panel discussion, the panelists also addressed issues like "idea or execution", which was important. The panelists felt execution is most important.  Idea can belong to any one. The one who executes and implements, it belongs to them they observed.

Jon Bradford shared his European and international experience of entrepreneurship journey for the benefit of the participants.

Love your company said Manish Kumar.  Failure is not the end, he said.

Jayesh also launched World's first real time Acceleration TV and the reality show.  Atal the founder of Spark 10 said those 10 or 15 startups who will be selected for the 13 Acceleration program will be part of the reality show, he said.

SPARK10 is located at the heart of Gachibowli-Hitec City Corridor of Hyderabad, India; at prestigious campus of Engineering Staff College of India (ESCI). It is inviting startups to enroll for 13 week acceleration program Accepted startups are taken through an intensive 13 weeks program endorsed by largest European Accelerator. The program provides access to Investors, Free work spaces, workshops, and learning experiences that help shoot them into the stratosphere. After all, it is the SPARK10’s goal to provide a strong entrepreneurial ecosystem around these movers and shakers to accelerate bring their businesses to the next level.

SPARK10 helps to identify and grow the most promising Indian Startups with International Business guidance, Specialist mentorship and Funding support, that results in Investable Businesses with high success rate. It provides seed capital, office space and mentors, and the runway necessary to sustain momentum after the end of the acceleration program.

We provide teams funding of INR 20 lakhs per team (including INR 10 lakhs of cash component) against 8% equity in those selected companies said Atal Malviya.

The founders move to Hyderabad for the 13 week program where they receive intense mentoring and business support. In addition, we shall also offer free work space for your small team for the period of the program, and credits towards use of Cloud platforms and other partners.

The investment comes from the SPARK10 Angel Investors, so startups will have a network of angels supporting their business from day 1. Sixty plus amazing mentors from Europe, UK & India will be available for mentorship, he added.