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Two incubators, one each in Telangana and Andhra Pradesh, with focus on promoting start-ups will be set up by the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI).
The NITI Ayog is expected to provide funding to the tune of ₹10 crore (₹2 crore each per year) to the incubators, which will be located in Hyderabad and Vijayawada, according to Ravindra Modi, President of the Chambers.
Tie-ups with ITIs While the focus of the incubator in Hyderabad will be on manufacturing and engineering, the Vijayawada centre will promote agri and food processing. The Chambers has tie-ups with 15 ITIs, he told newspersons today.
The Chambers will draw on the strength and expertise of its 3,000 industry members to both handhold the start-ups as well as to provide support in management and marketing at later stages.
Centenary celebrations Governor ESL Narasimhan inaugurated the centenary celebrations of the Chambers a fortnight ago.
The Chambers has also created a separate group ‘Women in Business’ to encourage entrepreneurship among women. “We will do seminars and mentoring to help women who want to comeback after motherhood and become self employed or start a venture,” Modi said.
It has recruited experts in various fields who will take up research, said Gowra Srinivas, Senior Vice-President.
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