The state government needs to find a mechanism for encouraging startups that are being planned by non-resident Indians, who are turning into new generation entrepreneurs after spending initial years in countries like the US, according to Assembly Speaker Nadendla Manohar.
While attracting bigger investments into the state from across the world has been a continuous endeavour, those who are increasingly willing to return home and start their own businesses require extra care and hand holding, he said while interacting with the media in connection with his proposed investors meet in the US from July 1.
The speaker will be meeting a group of 40 investors in Manhattan apart from meeting non-resident Telugu entrepreneurs in other cities to assure them of necessary support for their investment plans on behalf of the state government.
“Most of these prospective entrepreneurs are planning to start various ventures with a maximum investment of $1 million. But even the bigger companies will have a humble beginning. We have to provide proper environment to encourage and sustain such businesses,” he said.
Explaining his efforts on showcasing the state as an attractive investment destination, Manohar said the Indo-American chamber would soon start a facilitation centre here for guiding the companies and investors looking at opportunities in Andhra Pradesh. Similarly, the Canadian Consulate is also planning to establish its office in the city with a similar objective.
“Being a speaker, my role is helpful and complementary to what the government has been doing and is required in the area of facilitating the investments,” he said.
