JOIN USTechHub, a community and workspace for technology entrepreneurs started by the UK government in Bangalore last week, plans to open four more such centres in the City.
In an interaction with Deccan Herald, TechHub Global Projects Director Andrew Tibbitts said their expansion plan was mainly due to the growing startup ecosystem in Bangalore.
“We want our TechHub to be located near happening places like Whitefield and Central Business District of the city. That means it should cater to industries located in the area. We will open two more centres by the end of the current year,” he said.
“TechHub aims to nurture 1,000 startups in the city within three years. TechHub will give technology startups a conducive environment through an international network of like-minded and focused tech entrepreneurs. We would like to link them with companies in the UK also,” Tibbitts said.
TechHub Bangalore, the only one of its kind among Commonwealth countries, operates out of the UK India Business Centre in Bangalore near Koramangala.
Besides promoting exchange of ideas and forging collaborations, TechHub will provide easy access for aspiring entrepreneurs to more centres as well as give startup members and corporate partners proximity to the brightest minds and ideas in various fields.
TechHub, with a presence in London, Swansea (UK), Berlin (Germany), Bucharest (Romania) and Riga (Latvia), wants to create spaces around the world for tech entrepreneurs to meet, work, learn and collaborate.
“We provide physical and virtual spaces that enable technology startups to work smarter, develop faster and increase their chance of success. Entrepreneurs and their teams drop in or set up shop at the TechHub. They will be provided advice with angel investors on hand,” he said.
The TechHub initiative has so far incubated over 1,000 startup ventures with a few of them employing 30-50 workers. “Five big ticket acquisitions have already happened at TechHub from Silicon Valley companies,” he said.
Divide, acquired by Google in February, is one of the largest acquisitions out of TechHub. Its valuation at the time of acquisition was over $100 million.
Divide also received $32 million in VC funding. Divide encrypts data for BlackBerry enterprise server, BlackBerry devices and other mobile phones and enhances safety cover for servers and mobile devices. Another company, Nexmo, incubated at TechHub has raised $100 million from Intel Capital.