In a booster dose to budding entrepreneurs, 10 engineering colleges in the city have come forward to offer their facilities to incubate startup ideas.
On a request by the member of Parliament from Visakhapatnam, K. Haribabu, College of Engineering of Andhra University, Gitam Institute of Technology of GITAM University, Bullayya College of Engineering for Women, Raghu Engineering College, and others have agreed each to offer space for startups with 30-seater capacity.
The Sunrise Startup Village – AP’s first set-up at Rushikonda, a part of Madhurawada IT Special Economic Zone -- has provided space for incubation of 125 startups. As of now, 450 have registered with the Sunrise Startup Village being developed by MobMe Telecom following a MoU with the State government in September last of which 325 are waiting for space.
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“Even as the Sunrise Startup Village is in expansion, holding of bootcamps and allotting space to those in waiting in colleges will help spread startup culture,” Head (operations) of Startup Village Vasudeva Rao Thumati told
The city startup village is being developed to replicate the success story of Kochi Startup Village.
The city village has also brought Govin of Singapore with plans to fund the startup ventures with innovative ideas. A Bengaluru-based angel investor P. Prasad has decided to relocate to the city.
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Dr. Haribabu, who interacted with several youngsters on Friday, directed the authorities concerned to allot space in the colleges to 16 to 20 startups with 70-seating capacity by month-end.
“The idea is to ensure that nothing is done to kill the enthusiasm of prospective entrepreneurs. Moreover the incubation of ideas by startups from students of other colleges will create a competitive spirit thereby encouraging the students of host-college to launch startups on their own,” Dr. Haribabu said.