Telangana's IT and Industries Minister, KT Rama Rao, inaugurated FoundersLab on Wednesday, a startup company dedicated to fostering innovation and unleashing the creative potential among students with the aim of nurturing them into aspiring entrepreneurs. The company will operate across various states in the country and collaborate with educational institutions, universities, and engineering colleges to achieve its mission.
During the launch event, Minister KTR emphasized the abundance of opportunities in the startup sector and lauded the Telangana government's efforts in establishing platforms like T-Hub, WE Hub, T-Works, RICH, and Agri Hub to support and encourage the youth of the state.
The Minister appreciated the initiative of FoundersLab, considering it a significant step towards building a robust entrepreneurial ecosystem. He commended the company's mission to train and empower students to become successful entrepreneurs.
The launch event witnessed the presence of MLAs Nannapuneni Narender and Pilot Rohith Reddy, as well as Special Chief Secretary for Municipal Administration and Urban Development Aravind Kumar, and FoundersLab founder director Satya Prasad Peddapelli.
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In a separate event last week, Minister KT Rama Rao participated in the ground-breaking ceremony for the establishment of Japanese firms Daifuku and Nicomac Taikisha in Chandanvelly, Rangareddy. The facilities will involve an investment of Rs. 575 crore by the firms and are expected to generate 1,600–2,000 direct jobs and at least 4,000 indirect jobs, as stated by Minister KTR during the groundbreaking ceremony.
Daifuku is a renowned global provider of automated material handling technology and solutions. They specialise in offering a wide range of products and services for industries such as manufacturing, logistics, and airports.
Taikisha, a 110-year-old engineering firm, has acquired Nicomac Cleanrooms and is recognised as a pioneer in the establishment of cleanrooms and HVAC systems. Their expertise lies in creating controlled environments for electronic device manufacturing, lithium-ion battery production, and the food industry, particularly hydroponic farming.