The Indian startup scene is getting bigger every moment, with startup raising funds every week, there has been a lot of activity at the ground level so as to provide support to these startups. Be it by launch of new accelerators, incubators or funds by government to boost the startup activity in the country.
Continuing the trend, the AP government is going sign a memorandum of understanding with the chairman of Startup Village, Sanjay Vijayakumar to launch the first incubator in Andhra Pradesh.
The new incubator will work with a broad spectrum of stakeholders, including universities, colleges and students along with industry and private partners, to build a world-class startup ecosystem in AP.
Chief Minister Shri N. Chandrababu Naidu will formally inaugurate the startup project on the Public Private Partnership (PPP) model at the Technology Research and Innovation Park (TRIP). The facility would be spread over 17,000 Sq Ft of fully furnished startup space at Ruchikonda (Madhurawada Hill No. 3) in Vishakapatanam.
Since its launch Startup Village has attracted over 5,000 applications and incubated more than 800 startups of which 256 are student startups. “This experience of creating an entrepreneurial culture is unparalleled in India and Visakhapatnam will be the second location to have a startup village after Kochi.”
Startup Village has been approached by nine states till now for setting up the incubator but they could not attract their attention. Speaking over the reason behind what made them accept Andhra Pradesh’s offer, Sanjay said, “For such a centre to function it is utmost necessary that there be a change in education system as well as a strong commitment from political and bureaucratic setup which we see in Andhra Pradesh.”