A model business incubation centre in Tirupati, Andhra Pradesh has got a shot in the arm with the IC² Institute’s Global Commercialization Group (GCG) signing an MoU today between AP and the Federation of Indian Chambers of Commerce and Industry (FICCI) to start a multi-year program.

A GCG manager will reside in Tirupati for the first 17 months of the program. During this initial program period, GCG will train innovators and entrepreneurs, select startups for admission to the Tirupati incubator, and provide international business development services to incubating companies.

The GCG will collaborate with the FICCI to recruit program participants from throughout India to support Indian startups interested in domestic markets.

The AP Information Technology, Electronics, and Communications (ITE&C) Department is sponsoring the Centre. It sees the program as a model for A P – a state with a goal of an entrepreneur in every family, and the establishment of 100 new incubation facilities.

GCG has carried out a number of programs in India, including the ongoing DST-Lockheed Martin India Innovation Growth Program. It utilizes the experience and methodologies of IC² Institute to facilitate the growth and development of innovative technology-based businesses in a variety of regions worldwide, a press release from the US Consulate General here stated.

IC² Institute, The University of Texas at Austin, US has researched the theory and practice of entrepreneurial wealth creation and has been instrumental in Austin’s growth as an innovation and technology center and in the development of knowledge-based economies in over 30 countries.

The MoU was signed in New Delhi. Officials from Government of Andhra Pradesh, and IC² officials were present for the signing, the release said

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