The Indus Entrepreneurs, a global network of entrepreneurs of Indian origin, has established TiE Amaravati Chapter to foster entrepreneurship in Andhra Pradesh.
Its formal launch, expected next month, will be followed by the creation of Andhra Angels, a network of angel investors, TiE leaders told presspersons in Hyderabad on Wednesday.
Announcing approval of TiE Board of Trustees for the new Chapter, Board member and Endiya Partners Managing Director Sateesh Andra said TiE Amaravati will play a crucial in focusing on creating and nurturing the next generation of entrepreneurs. “Fintech, IT/ITeS, pharma and life sciences, manufacturing besides agriculture and food processing sectors will be our immediate focus,” he said.
Andhra Angels would initially have 50 investors and a corpus of ₹ 50 crore, he added, expecting the network to take shape within six months. An angel investor in the network typically invests up to ₹ 1 crore in a company.
Vice-Chairman of Srinivasa Hatcheries Suresh Rayudu Chitturi said it was imperative for the Chapter to look beyond technology companies. The need was to foster, across sectors, entrepreneurs “keen and dedicated to the virtuous cycle of wealth creation and giving back to the community.” Over the next two years, the membership of Amaravati Chapter, to be drawn primarily from Andhra Pradesh, is expected to comprise 40-50 charter members, up to 500 associate members and students from 20 colleges in the State. Besides the capital city of Andhra Pradesh, TiE is keen on expanding presence to Vishkhapatnam and Tirupati.
Partner, Fox Mandal & Associates, Purnima Kamble said the new Chapter sought to support local women entrepreneurs in Andhra Pradesh through a networking platform, knowledge sharing and mentoring sessions.
On the activities of TiE Amaravati, Mr. Andra said besides flagship events at Vijayawada, Vishkhapatnam and Tirupati, the focus of the programmes would be hand holding entrepreneurs and interactions with college students.
