Governor Biswa Bhusan Harichandan on Friday virtually laid the foundation for Andhra Technology Business Incubator being set up in Narasaraopeta Engineering College (NEC).
The new incubation centre is being established in collaboration with Innovation and Entrepreneurship Division of the National Science and Technology Entrepreneurship Development Board (NSTEDB), Government of India. The college, located in Guntur district, was affiliated to JNTU-K Kakinada.
Mr. Harichandan, addressing the officers and the college faculty and staff, said he was happy to know that the incubation centre being set up was the first of its kind mission in the country to provide a complete ecosystem support to technology-based start-ups, where innovative ideas are generated, nurtured and positioned for development of sustainable enterprises.
The Governor said that Centre had recently launched ₹1,000 crore Start-up India seed fund to help new start-ups to develop in the country and the government was making all efforts to create a start-up system to help the youth in becoming entrepreneurs.
The Governor expressed the hope that the Andhra Technology Business Incubator will help in creation of jobs and promote new technology and innovation-based start-ups with a focus on manufacturing, agriculture, healthcare, clean tech, energy, water and Internet of Things (IOT).
The Governor complimented the Narasaraopeta Engineering College chairman M. Koteswara Rao and vice-chairman M.S. Chakravarthi for their efforts to support the rural youth by providing them training, mentorship, funding and workspace to transform their innovative ideas into a start-up.
Andhra Technology Business Incubator (ATBI) director Swapan Siddharth said the ATBI was focussing on strengthening the rural start-up system, which paves way for better employment, ecosystem, promotion of agriculture and health, transportation and development of villages.
Narsaraopeta MLA Gopi Reddy Srinivasa Reddy, JNTU-Kakinada Vice-Chancellor M. Ramalinga Raju, scientist Praveen Roy and others participated.