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Uber Signs MoU with Telangana, To Invest $50 Million Over 5 Years

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Online taxi-hailing company Uber has signed a memorandum of understanding (MoU) with the Telangana government aimed at creating thousands of jobs and entrepreneurship opportunities, fostering technical innovation and research into smart city initiatives.
Uber has committed $50 million (Rs 317 crore) over 5 years for a centre it is establishing in Hyderabad to train its drivers and customer support staff. 
"It is an outstanding example of what can be achieved when the private and the public sector work together with the best interests of the local communities at heart to bridge the digital divide in line with Prime Minister Narendra Modi’s Digital India initiative,” said Siddharth Shanker, general manager Uber. 
Uber has a long-term commitment to creating tens of thousands of jobs and entrepreneurship opportunities, bringing greater efficiency to automobile utilization and safer transportation choices for people in Telangana state. The MoU is a visionary step and a significant milestone in how governments and Uber are working together around the world to develop smarter cities.
Sixteen months ago Uber transformed urban mobility for millions of Indians, when it launched in Hyderabad, by introducing a more safe, reliable and efficient way to move around the city. In fact, the flexibility, entrepreneurial opportunity and earning potential of Uber’s innovative technology has an equally transformational impact on the livelihoods of thousands of driver partners and their families. 
The company will leverage its unique model to create unrivalled entrepreneurship opportunities and support tens of thousands of middle class jobs in the state of Telangana. 
Uber will also collaborate with Telangana Academy for Skills and Knowledge to identify and train more than 2,000 drivers by the end of 2016, who will then drive on its platform, the company said in a statement on Monday. 
Uber’s Vehicle Finance programme and technology platform will facilitate first-time vehicle ownership and provide unrivalled economic opportunities for the successful candidates from the TASK programme.

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