Hyderabad, Feb. 23 -- A one-of-its-kind Innovation Lab & Center of Excellence (ILCE) is proposed to be set up in Telangana with an investment of Rs 3,000 crore in the next 10 years.

A Memorandum of Understanding (MoU) to this effect was signed on Tuesday by Telangana State Innovation Cell (TSIC) with upcoming Navam Innovation Foundation.

Proposed to be established on 15-acre in Kamareddy District, Navam campus is a collaborative effort between Agastya International Foundation and Pravaha Foundation. It will be operational in three to five years.

The ILCE will intend to create and foster the innovative spirit among the underprivileged, and underserved sections of society, that leads to fuelling the existing grassroots innovation ecosystem...