T-Hub on September 30 announced that it has signed an MoU with a a US-based non-profit organisation Redberri Earth Foundation under its T-Bridge initiative.
Under the partnership, T-Hub is aiming to understand market opportunities for Indian startups in the US market. T-Hub and Redberri will provide Indian and Chicago startups with business opportunities, market understanding and access to clients in Chicago and India, respectively. Also, the two entities will collaborate in the areas of startup innovation and entrepreneurship.
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T-Hub will receive access to space and infrastructure in the Chicago area and have the access to select technology conferences and events under this partnership. Apart from this, the firm will connect with the Chicago-based research universities, technology industry associations, chambers of commerce, US Government grant agencies to provide research, marketing, and financial support to the T-Bridge Program.
"This partnership will enable us to deliver knowledge and support not just to the Indian startups for their business expansion in the international market but also will welcome US-based startups to set up and scale-up in the rapidly growing but complicated Indian market. Together we will ensure that our high-potential startups have the end-to-end support and guidance as they prepare to launch their business in new global markets driven by innovation,” CEO of T-Hub Ravi Narayan said.
In partnership with Redberri, T-Hub aims to establish structured market access programs and soft-landing programs, which will help nurture the startup ecosystem in the US and India. Indian startups will be incubated with Redberri in Chicago and US startups will be incubated with T-Hub in India.
"T-Hub is a valuable partner to help the US startups to scale in a new market and experience India’s exceptional entrepreneurial ecosystem. We are also looking forward to enabling Indian startups to gain a strong foothold in the US market and connect them to the larger international players to enhance their growth journey. The startups will benefit greatly from the strategic workshops and interventions provided under this partnership to access both the markets and explore business opportunities. Redberri Innovation Center is proud to partner with T-Hub," Chairman and CEO of Redberri Earth Foundation Deepak Kant Vyas said.
To apply for the program, Indian startups must have raised investments of at least $3 million and their product or solution must be market ready and being sold in home market or elsewhere. Also, one founder needs to be present during the program and during all in-country interventions.
The benefits, under this program, for startups include support inproduct localisation, business model validation for the market, access to personal mentors and entrepreneur-in-residence, provision of a co-working space at T-Hub and by Redberri. Also, no equity is taken for the program.