Fifteen startups have been shortlisted among 55 applicants to pitch their ideas before a panel of venture capital and angel investors at the second edition of StartAP Festival being organised here on March 5 and 6.
Chief Minister N. Chandrababu Naidu will inaugurate the festival, the largest being held post-bifurcation on March 5.
The organisers selected 15 pitchers based on their innovative ideas. Each one of them will be given an opportunity to explain their plan before the investors.
The title event partners are Innovation Society, Government of Andhra Pradesh and OMICS International. Around 1,000 to 1200 entrepreneurs, students and aspiring entrepreneurs from across the State are expected to attend the conference being hosted at sea-facing Saipriya Resorts.
The top two pitchers will be selected by the jury for a cash award of respectively Rs.1 lakh and Rs.50,000. Several off-beat sessions like ‘gyan by beach’ are planned with an intention to identify innovators, thinkers and doers to learn and share.
“This is being structured in a unique style to develop the startup ecosystem. We are very happy with the response to our initiative,” StartAP Fest CEO Siddharth Marupeddi told The Hindu on Thursday.
He said StartAP was a movement for creating a platform to encourage startups with the support of the State government – the first to launch a startup policy. “It will be a journey of passion, vision and entrepreneurship and all about how a favourable ecosystem can revitalise the economy,” he said.
The tagline of the fest is ‘StartAP Andhrapreneurship.”
Some NRI entrepreneurs are also participating. The guest lectures will be given by noted persons like IT Advisor to AP Government J.A. Chowdary, Elico CFO and Executive Director Vanitha Datla, Hatcheries CEO Suresh Rayudu Chitturi, Progress Software vice-president (Products) Ramesh Loganathan will address.
“Visakhapatnam is the largest city and IT hub of AP. We are happy that events like this will facilitate networking among all those involved in encouraging entrepreneurship among youngsters,” CEO of Startup Moksha (an incubator for startups) T. Vasudeva Rao said.
Fifteen startups chosen to pitch ideas at the festival