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As it targets to make a home for 500 start-ups, the government of Andhra Pradesh is firming up its plan to set up a Rs 100-crore fund to nourish the fledgling ideas.
“The plan is ready. We are expecting the Cabinet to clear it soon,” former Union IT Secretary and IT Advisor to Andhra Pradesh Chief Minister N Chandrababu Naidu said.
Talking to reporters on the sidelines of an event here on Tuesday, he said the fund would fund 15 per cent to each incubator that would come up in the State. “So, we expect investments to the tune of Rs 600 crore in the incubation centres,” he said.
He said the State made a good beginning with a little over 100 start-ups beginning work at the Visakhapatnam facility. “We have launched a facility in Kakinada too,” he said.
The Government is also planning to set up Centres of Excellence (CoEs) attached to different universities. “We have asked the Vice-Chancellors to provide infrastructure for CoEs. We are also approaching technology majors such as Intel to take part in the programme,” he said.
The State is also preparing a Proof-of-Concept to focus on technology areas that could shape our future. The plan to provide broadband to each household too is getting ready. “We are targeting to complete the project in 30-36 months as part of the Bharat Net programme being planned at national level,” he said.
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