IT entrepreneurs and investors in the city have decided to raise a strong pitch for big ticket projects and readymade infrastructure for SMEs to make Visakhapatnam one of the prominent hubs in the country.
Welcoming the focus on promoting the city as Fintech (financial technology) Valley and cyber security research hub, they have represented to new IT Minister Nara Lokesh to promote the city as the Silicon Valley of Andhra Pradesh.
“We already have infrastructure and our journey to attract IT units started over one and half decades ago. We need a slew of incentives to take the city forward with a comprehensive ecosystem starting from ready-made space to social infrastructure and encouragement to first generation entrepreneurs,” Rushikonda IT Park Association vice-president O. Naresh Kumar said.
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He wanted revision in the IT policy to spell out the government stand to encourage investments in the sector.
When contacted, representatives of various IT and trade organisations told The Hindu that besides encouraging big investments, SMEs should get priority in the allotment of ready-made infrastructure. A.P, Electronics and IT Agency (APEITA), an autonomous body formed by the State Government with head office in Visakhapatnam, has taken on hire a VUDA building at Seethammadhara, new building of Tech Mahindra at Satyam Centre and some floors in a shopping mall on VIP Road.
Three million tonne of ready-made space will be available once Million Tower is ready for occupation by year-end at Rushikonda.
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One of the buildings of an IT company has been taken on lease and dedicated as Fintech Tower at Rushikonda.
Turnover
IT Association of Andhra Pradesh (ITAAP) president Ravi Eswarapu said their plan was to increase IT turnover from ₹ 2,000 crore to ₹ 10,000 crore in next three to four years by laying emphasis on encouraging Greenfield and Brownfield projects by local entrepreneurs.
Vizagapatam Chamber of Commerce & Industry president A.V. Monish Row said IT could not be expected to grow in isolation.
He said: “Foundational seeds can only grow in fertile soil and institutions such as universities, venture creators, supply chains and local labour market cannot be successful unless aligned together.” He said: “Ideas need to blossom! This needs links and collaboration among various institutions which will help more job creating start-ups and help companies find skilled manpower to compete in global markets.”