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An exclusive incubator to handhold start-ups in the area of Internet of Things (IoT) and smart cities has been launched in Hyderabad. Flexeye has opened the start-up accelerator HyperCat at Kondapur, the hub of IT and IT-enabled services industry here.
The incubator, which has a backing of 700 businesses and organisations, would house 40 start-ups. The incubator wouldn’t charge any fee from start-ups.
“It also provides mentorship and funding for select start-ups. They will get mentorship and access to global market through the businesses in the network,” Justin Anderson, Chief Executive Officer of Flexeye, said. Addressing a press conference here on Wednesday, he refused to quantify the funding that could go into start-ups. The initiative is backed by businesses such as BT, Symantec, Intel and Cisco.
Flexeye India Managing Director Srinivas Chilukuri has said that the firm would bring a Smart City course in association with the University of Surrey (the UK), a member of HyperCat.
“The incubator leverages the existing UK government funding in HyperCat. The UK government is willing to support smart cities being evolved in India,” Andrew McAllister, British Deputy High Commissioner in Hyderabad, said.
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