IC2 to develop incubation centre in Tirupati

Hyderabad: The IC² Institute’s Global Commercialization Group (GCG) will soon start a multi-year program to develop Andhra Pradesh Incubation Centre in Tirupati. To this effect, the US-based institute signed an MOU in New Delhi on Wednesday with Andhra Pradesh government and the FICCI. Officials AP and IC² were present on the occasion.

To be sponsored by the Andhra Pradesh Information Technology, Electronics, and Communications (ITE&C) Department, the programme will establish a model business incubation centre in the growing city of Tirupati. A GCG manager will reside in Tirupati for the first 17 months of the program.

During this initial program period, GCG will train innovators and entrepreneurs, select startups for admission to the Tirupati incubator, and provide international business development services to incubating companies. The GCG will also collaborate with the FICCI to recruit programme participants from throughout India to support Indian startups interested in domestic markets.

“ITE&C sees the program as a model for AP- a state with a goal of an entrepreneur in every family, and the establishment of 100 new incubation facilities. GCG has carried out a number of programmes in India, including the ongoing DST-Lockheed Martin India Innovation Growth Program,” US Consulate General Hyderabad said in a release.