AP Govt plans ‘pilot incubator’ to promote tech start-ups

Somashekar Mulugu Hyderabad | Updated on January 24, 2018 Published on February 21, 2015

Signs MoU to set up ‘Startup Accelerator India’ with Govin Capital, Singapore

Startup Accelerator India, will be one of the first pilot incubation facility to promote technology start-ups in the coastal city of Visakhapatnam.

Singapore based, Govin Capital will help set up the facility at Sunrise Startup TRIP Incubation Tower, Madhurawada IT layout.

A memorandum of understanding (MoU) was today signed by Anand Govindaluri, Managing Director of Govin Capital and B Sreedhar, Secretary, ITE&C of AP Government. The Minister, Palle Raghunatha Reddy also participated in the event at Visakhapatnam.

Govin Capital intends to incubate 100 startup companies and nurture 1,000 students as first generation technocrat entrepreneurs over the next five years.

The Singapore company had expressed interest to partner Andhra Pradesh Government as a pilot incubator to promote start-ups in Visakhapatnam.

The AP Government has constructed an incubation tower of 50,000-sq.ft at the place, as part of its initiative to promote startup, an innovation culture.

The focus would be on first generation technocrat entrepreneurs and offer `Bootup-Startup-Scaleup model’. The Government had announced the Innovation and Startup policy 2014-20 a few months ago.

The Government intends to establish 100 Incubators/Accelarators and 5,000 companies and startups to be incubated by 2020.

Published on February 21, 2015
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