Speaking to Business Standard, UoH vice-chancellor Seyed E Hasnain said the facility would come up on 50 acres of land on the university campus. The university is spread over 2,000 acres given to it on a long-term lease by the Andhra Pradesh government. The APIIC will develop the park by laying roads and creating other infrastructure.
While the university will hold an 89 per cent equity in the proposed park, the APIIC will hold the remaining 11 per cent.
Though the park was initially proposed on about 200 acres, the university trimmed it down to 50 acres. The knowledge park would be leased out to tenants, who would create the required pay-and-use facilities for conducting research and development activities in their respective fields. "Each tenant will be given 3-4 acre space for creating the facilities,'' Hasnain said.
So far, about six MNC, including a few Indian multinational companies, have given their consent to partner UoH in the venture. "We were supposed to register the park as a company last week. It has been delayed and we expect it to be registered in a week,'' the vice-chancellor said, adding UoH would also play a mentoring role apart from providing last mile connectivity on the campus for the park.
The revenues earned will also be shared in the same ratio -- 89 per cent for the university and 11 per cent for the APIIC. "The spin-offs and intellectual property coming from the park will belong to the UoH and the APIIC,'' he said.
