Andhra University to get tech incubator

Visakhapatnam: Andhra University has received a communication from Department of Science & Technology Ministry of Science & Technology stating that the National Expert Advisory Committee (NEAC) has recommended the establishment of the inclusive Technology Business Incubator (i-TBI) under its NIDHI, i-TBI programme at a cost of Rs 5 crore.

The sanction is subject to compliance of certain project implementation conditions for establishing the i-TBI at AU Engineering College. The grant is for establishing incubation lab, working space, manpower costs, organising training programs, mentoring of the startups. The most important component of the grant is providing an ignition grant up to ten lakh to the startup companies, which would encourage entrepreneurs to test new ideas.

AU Vice Chancellor Prof PVGD Prasad Reddy and Registrar Prof V Krishna Mohan expressed their happiness as this facility will further boost the efforts of the university in strengthening the startup ecosystem in the university campus and congratulated the Principle Investigator Prof Hanumanthu Purushotham the DPIIT-IPR Chair Professor, Ravi Eswarapu the CEO of AU Incubation Hub, and Prof K Venkata Subbaiah, Head Mechanical Engineering.