Jay Krishnan, the founding CEO of tech startup incubator T-hub, has tendered his resignation and is likely to take up a job in an investment firm.

The board of T-Hub has accepted Krishnan's resignation and the hunt for a new head will commence soon.

The company has appointed Srinivas Kollipara, COO and co-founder at T-hub, as an interim CEO.

In 2015, Krishnan moved to Hyderabad from Silicon Valley after being appointed as the CEO of the public-private-partnership envisioned between the government of Telangana, IIIT Hyderabad, ISB, NALSAR and other private sector players.

Since T-hub's inception in November 2015, Krishnan "made outstanding contributions and was instrumental in bringing T-hub to great heights of success," the company's board said in a statement on Monday.

Krishnan's departure comes at a time when the second phase of T-Hub, coming up at Rayadurgam, is scheduled to begin operations in the next few months.

T-hub is currently India's largest tech start-up incubator. It has partnered with the likes of Uber, Cisco, Yes Bank, Niti Aayog to run accelerator programmes in Hyderabad.