The Andhra Pradesh government is on the verge of entering into a memorandum of understanding (MoU) with Israel to create opportunities for startups and small and medium enterprises (SMEs) in the area of information technology.
This initiative, according to K Ratna Prabha, principal secretary (ICT), is in line with the state government’s special focus on SMEs in its information and communication technology policy 2010-15 released in July 2010.
It may be recalled that the state government, in its ICT policy, had laid emphasis on the SME sector including announcing a 30 per cent subsidy to SMEs with a turnover not exceeding Rs 10 crore, in respect of the stall rent payable for participation in international events notified by the ICT department.
“The MoU with Israel is expected to be signed during the Advantage AP 2011, a two-day national SME conference scheduled to be held in Hyderabad from March 1, 2011. The project with Israel will involve the Andhra Pradesh government pumping in Rs 10 crore and the West Asian country contributing an equal amount as seed money,” she said.
