The city of Richardson has big goals for its Innovation Quarter, or IQ—including making it the premier tech hub of Texas. It aims to do that by bringing businesses, UT Dallas, and the city in one place at The IQ HQ. And Tuesday the city added one more key ingredient by partnering with Frisco-based Startup Runway at the HQ.

Founded in 2023, Startup Runway is an accelerator with a mission of promoting the growth of India-based companies and other international businesses it represents.

City leaders joined Startup Runway executives in a ribbon cutting ceremony Tuesday to mark the beginning of a strategic partnership at The IQ HQ, located on E. Collins Blvd. near N. Plano Road. The goal: enhancing international economic ties and fostering continued innovation within The IQ business community and throughout Richardson.

A ribbon cutting at Richardson’s IQ HQ marked the city’s partnership with Startup Runway. [Photo: City of Richardson]

“Foreign startups bring innovative ideas, diverse talent, and new technologies, driving competition and fostering growth,” Richardson Mayor Bob Dubey said in a statement. “They are also attractive partners for our local business ecosystem and have the potential to make our community a launch point and hub for proven industries looking to establish roots in Texas and the United States.” 

Building on city’s rep as the ‘International Business Capital of North Texas’

Richardson is already abuzz with startups that have roots on the other side of the globe—which is why its been officially designated the “International Business Capital of North Texas” by the Texas State Legislature. Lawmakers approved that title in recognition of the city’s “substantial presence of international business operations and employees,” the city noted.

Now the city aims to boost that reputation with the help of Startup Runway. The partnership will feature biannual trips to India by at least one member of the city’s economic development team, the city said. The visits will aim to foster relationships and advocate for Richardson’s interests with business and government leaders. The prize the city ultimately seeks is attracting India-based startups to establish permanent locations in Richardson. 

‘At the forefront of innovation’

City leaders and Startup Runway executives marked their new partnership Tuesday at The IQ HQ. [Photo: City of Richardson]

Startup Runway CEO Mahesh Nandyala said his accelerator “is at the forefront of innovation, creating an ecosystem that unites academia, international companies, enterprises, and capital.”

“By bridging these forces, we help cities transform into thriving innovation hubs, fostering sustainable growth and generating new jobs,” he added in a statement. “Our mission is to drive progress, shape the future, and build vibrant communities through the power of collaboration and cutting-edge ideas.” 

‘Breaking new ground’ with a direct pipeline to India and beyond

“We’re breaking new ground in Richardson with this agreement by opening a direct pipeline that will attract international business to Richardson and The IQ,” Richardson City Manager Don Magner said in a statement. “Direct foreign investment from these startups not only creates jobs and stimulates the local economy but also builds our global business connections, strengthening our position as a hub of innovation and opportunity.” 

The IQ: A hub for innovation, technology, and entrepreneurship

Richardson’s Innovation Quarter HQ [Photo: UT Dallas]

The city of Richardson and UT Dallas partnered to help develop The IQ as a hub for innovation, technology, and entrepreneurship, the city said, creating a central point for businesses, startups, and research institutions to collaborate and drive economic growth and technological advancements by offering a range of resources. They include state-of-the-art facilities, coworking spaces, and access to a network of professionals and investors. 

Earlier this month, a new 5G R&D lab opened at The IQ HQ as part of a nationwide collaboration to pursue research, testing, evaluation, and development of the next generation of 5G Radio Access Network (RAN) products and services. The lab is affiliated with UT Dallas’ Erik Jonsson School of Engineering and Computer Science under the leadership of AT&T and Verizon.

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