When they say you need to build your home brick by brick, it doesn’t mean you lay one on top of another. You put your heart and soul into it so that it is built to your taste and design. So is the case with any organization, be it small or big. You choose your partners, team, employees, software to use, location of the office and a lot many factors while building an organization.
Incubation center is not something new in India. Many private companies have set up centers in different parts of India. Bangalore has taken the mantle to setup the first few, later in Hyderabad, Pune, Chennai, Cochin, Delhi and NCR regions. The reason why I brought this topic today is of key relevance. The market for a product or service has to be created first and that is generally an effort by many companies. Unfortunately, not everyone succeeds in winning a share of this market. Some exit early, some a little later. There would be a point in time when the market matures to accept this product and those companies which exist during this time benefit the most. Though people say its sheer luck or coincidence, I would call it perseverance. While others try to establish themselves in a market, the winning company goes beyond and tries harder. Trying harder doesn’t necessarily mean spending more money or having more resources, but doing things differently. Only then you would be able to beat the odds, in a way even the odds don’t expect you to react in that manner. There are a lot of success stories in the distribution, FMCG, Automobile and white goods industries and T-Hub is one such success story. T-Hub did a lot of things differently to beat the odds and they have successfully come out with flying colours. Though it might be a bit early to quantify the success, the direction is very clear and sound.
I attribute their immense success to the below key aspects:
Right Team: Getting the right set of people on board is the first thing that any company should look at. Ideas are dime a dozen anyway, it is the ability to execute and show to the world exactly what the idea is all about, which sets apart the best from the rest. Stalwarts like BVR Mohan Reddy, CV Gurnani, Sashi Reddi, Ajit Rangnejar, PJ Narayanan, Faizan Mustafa, Raman Kumar & Srini Raju forms the right mix of people from corporate, industry, academia & entrepreneurship. T-Hub is a unique public/private partnership between the government of Telangana, 3 of India’s premier academic institutes (IIIT-H, ISB & NALSAR) and key private sector leaders. Isn’t this an amazing partnership of start-ups, academia, corporate, research and government sectors?
Eco-system: Now, this is where they did a splendid job and proved themselves that they have done things differently. They have collaborated with other incubation centers, start up events, co-working space providers, research institutes, seed/angel/venture capital companies, mentoring organizations and accelerators. This decade is for collaborations and we have seen many success stories across the globe how fantastic products are created with right collaborations. With this, they not only created a space for themselves, but they have taken everybody along with them, creating a larger and stronger Eco-System of Entrepreneurship in Hyderabad. This to me is a great difference that they created in this space, for the greater good of entrepreneurship.
Positioning: They gave the true meaning to the marketing ‘P’ and have taken it to an all-new level. T-Hub has been positioned as THE go-to place for all entrepreneurs across India. It’s become the talking point for every successful entrepreneur in India and across the globe from Ratan Tata, Vishal Sikka, Satya Nadella and many more. Satya Nadella could inspire the thought process of the young entrepreneurs and upcoming startups, which would otherwise be just a dream. These entrepreneurs should be mentored to innovate, encouraged to take risks and accept failures. T-Hub does that in style by inviting leaders to interact with this bunch of entrepreneurs, and not just read about them on Internet. They have positioned themselves as a one-stop shop for ‘Entrepreneurship’ in the mind of every aspiring entrepreneur.
Moments of Truth: There are enough and more cooks floating around talking about their own recipes. Not many are bothered about the preparation of the pudding as long as it tastes good. It’s the pudding that sells, not the preparation J. Likewise, though there might be far more people doing the same thing, but the ultimate success is decided by these moments of truth. The entire country talks about T-Hub and the culture it has set in the entrepreneurship space. It is not about the ambience, or the coffee they serve, or the number of investors who come to visit them. It is about the culture and the experience that sets them apart. What else can be a bigger moment of truth to an aspiring entrepreneur?
I am not boasting just because I belong to this place, but I am proud to showcase this to the entire country and suggest other states to follow suit.
India has no dearth of Doctors, Engineers, Lawyers & other Professionals. All we need now are Scientists and Entrepreneurs;Scientists to invent and Entrepreneurs to innovate.
I envisage T-Hub as ‘India’s moment of Entrepreneurship.’