JULY 20228Why is Hyderabad preferred?The Indian tech startup scene exploded in 2021. With the addition of 2,250 tech startups and 42 unicorns in a single year, India surpassed the United States and China to become the world's third-largest startup ecosystem. Bengaluru leads the pack in terms of the number of Indian tech startups. However, thanks to its infrastructure, talent pool, and government-backed incubators, Hyderabad is not far behind.In February, IIT Hyderabad opened a 1,50,000-square-foot Technology Research Park, funded by the Union Ministry of Education, to help bridge the gap between industry and academia. The park will provide infrastructure and facilities for industry partners to establish R&D centres on the IIT Hyderabad campus & tech companies like Google recently announced plans to build its largest campus outside of Mountain View in Hyderabad. The facility will cover 7.3 acres of land and have a built-up area of 3.3 million square feet, which is larger than Amazon's 3 million square foot campus next door. Furthermore, Hyderabad has one of Google's largest employee bases. However, Google is not the only company that has established a presence in Hyderabad, raising the question, "Is Hyderabad becoming India's new tech hub?"State government initiativesTelangana's government has enacted a number of laws to encourage IT development and foreign investment. HITEC City (Hyderabad Information Technology and Engineering Consultancy City) was also established by the state to promote information technology, engineering, health informatics, and bioinformatics in Hyderabad. As part of the new ICT policy, Telangana Information Technology, Electronics and Communications Department Minister KT Rama Rao will launch the Startup Telangana portal in September 2021.The portal serves as a one-stop shop for the entire startup ecosystem.The government also announced a Memorandum of Understanding with Microsoft to develop the local ecosystem through startup programmes and skill-building initiatives. Furthermore, EDITORIAL EXCLUSIVEWHY GIANT TECH COMPANIES ARE MAKING A WAY FOR HYDERABAD?
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