A.P. Innovation and Start-Up Policy unveiled recently will formally take off from Visakhapatnam with the launching of an incubation tower built by APIIC at Rushikonda at a cost of Rs.25 crore.
This will be followed by launching of incubation towers at Kakinada, Tirupati and other places. The tower constructed here with 50,000 square ft. built-up space area will be converted into Technology, Research and Innovation Park (TRIP).
The State government has sought empanelment of reputed incubators for TRIP, Visakhapatnam and such facilities coming up at other places. The empanelment will be for one year on PPP model. Incubators have to promote the culture of innovation among start-up units.
Investors feel that the new policy will create the much-needed world-class eco-system and lay strong foundation for rebuilding A.P. It will also create a lot of employment opportunities.
Selection panel A selection committee will be set up to scrutinise interested pilot incubators for TRIP here and incubation centres across the State.
“It will certainly explore and promote immense business opportunities in IT and IT Enabled Services and allied sectors with plug in and plug out facility,” FICCI co-chairman (A.P. and Telangana) J.A. Chowdary told The Hindu.
Investors feel there is genuine intent to lay a strong foundation for the new State with focus on e-governance. To explore the potential in the region, a CEO and investors’ convention will be addressed by the Chief Minister coinciding with the inauguration of TRIP-Vizag on September 29.
Minister for IT Palle Raghunadha Reddy during his visit to IT SEZ at Rushikonda said TRIP would be managed by the incubator for generation of new ideas and product development.
“We expect that TRIP and other initiatives will usher in a culture of innovation and entrepreneurship in Visakhapatnam and its periphery so as get sanction for IT Investment Region,” said Rushikonda IT Park Association president and Visakhapatnam North MLA P. Vishnu Kumar Raju.
