NewsGram Staff Writer

Hyderabad: Ratan Tata is scheduled to inaugurate the T-Hub, the country's biggest start-up incubator on November 5. The inauguration ceremony will also witness the presence of Telangana Governor ESL Narasimhan and Chief Minister K Chandrasekhar Rao.

However, the non-availability of Ratan Tata forced the postponement of the event to November 5, which was earlier slated to be held on September 7.

The first phase has come up at the International Institute of Information Technology (IIIT).

The facility is being set up in collaboration with IIIT Hyderabad, the Indian School of Business (ISB) and the NALSAR University of Law.

While NALSAR would help in intellectual property and related areas, ISB and IIIT would provide business and technology mentoring respectively.

Phase I which is being set at IIIT at a cost of Rs 35 crore will be spread over 60,000 square feet and can accommodate 400 start-ups by 2017.

The second phase will come up on three acres of land in Raidurgam near Hitec City, the IT hub.

The government promises that it will be an 'incubator of incubators', offering startup environment available in the west.

The facility will also have venture capitalists and angel investors.

The government is also mulling a venture capital fund. Officials said discussion with various venture fund groups had already taken place.

(With inputs from IANS)