The Indus Entrepreneurs (TiE) announced plans to launch a chapter in Telengana’s Nizamabad district in order to boost entrepreneurship in the region. In addition to this, the organization plans to have a corpus of Rs. 20 lakh for building and nurturing the startup ecosystem. The Nizamabad chapter will foster startups in areas like agri-tech and help in improving the income of farmers.
“The TiE Nizamabad though was officially working since the past eight months, today we are formally announcing it as we have received all the approvals from TiE Global. The chapter will start with a humble fund of nearly Rs. 20 lakh for fostering entrepreneurship into the people,” said Phanindra Sama, Founder of Redbus and current Chief Innovation Office of Government of Telangana. The announcement was made at the third edition of the Development Dialogue, an event that was organized by the Deshpande Foundation.
Phanindra Sama is the co-founder of the incubator Kakatiya Sandbox. The incubator assisted in setting up the TiE Nizamabad Chapter. It works under the auspice of the Deshpande Foundation and has been engaged in increasing the incomes of over 25,000 farmers from various districts. The organization is endeavouring to introduce several cost effective methods to improve the productivity of farmers, particularly through its farm pond initiative which is aimed at reviving the water table in certain areas and the Better Cotton initiatives which aims to uplift farmers. The organization has claimed that its Better Cotton initiatives have led to the upliftment of approximately 1 lakh farmers over the part 7-8 years in the places that the organization operates.
The Deshpande Foundation is a non-governmental organization that was founded in 1996 in USA. It was co-founded by Indian American Venture Capitalist and entrepreneur Dr Gururaj and Jaishree Deshpande with the aim of accelerating the establishment of sustainable and scalable enterprises that will have a significant social and economic impact.
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