CONNECT WITH US
April 16, 2023 12:19 am | Updated 12:19 am IST – HYDERABAD
COMMents
SHARE
READ LATER
IT Minister K.T. Rama Rao with the winner of L.V. Prasad Eye Insitute’s Incubator Startup Challenge 2023, in Hyderabad on Saturday. | Photo Credit: Arrangement
Minister for Information Technology, K.T. Rama Rao has urged innovators to leverage the innovation ecosystem in Hyderabad, including T-Hub, to come up with ideas that provide solutions to everyday problems.
He said any innovation should carry societal value if it has to be accepted and focus on new ideas rather than duplicating those that have been tried and tested. He was speaking at the award function of L.V. Prasad Eye Insitute’s (LVPEI) Incubator Startup Challenge 2023 here on Saturday.
The Minister said capital was not an issue in today’s world and those with ideas will have support from every corner. “Be original and celebrate failures” was his advice to those who couldn’t make it to the top in the competition. Recalling entrepreneurial difficulties three decades ago, he said people like B.V. Mohan Reddy, who set up Cyient, faced a lot of issues with raising capital but the present generation doesn’t face that.
Mr.Rama Rao said giving back to society was a virtue and people like the late L.V. Prasad had a vision for society, and the world-class institute that LVPEI has turned out to be is a result of the sincerity of such ideas.
Winners of the LVPEI Incubator’s Startup Challenge for startups in the eye care domain, a first-of-its-kind in the country, were given cash prizes by the Ministers and other guests including director general at Research and Innovation Circle of Hyderabad Ajit Rangnekar, Cyient founder-chairman B.V.R. Mohan Reddy, T-Hub CEO Srinivas Rao Mahankali and Executive Chair of LVPEI Prashant Garg.
The top three winners were selected based on the innovation quotient, social and clinical impact, and the merit of the business plan. The winning idea was given ₹5 lakh and 12 months of free incubation at LVPEI while the first runner-up received ₹3 lakh and six months of free incubation. The second runner-up received ₹2 lakh and six months of free incubation.
COMMents
SHARE
BACK TO TOP
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.