The Andhra Pradesh government today said it plans to create five "world-class" incubators with Rs 750 crore investment over the next four years.
The Andhra Pradesh government has come forward with a blueprint of five world-class incubators with each incubator being planned with a cost of Rs 150 crore and would be executed for a period of 15 years, an official statement said.
"In this direction, Chief Minister N Chandrababu Naidu has launched the Integrated Risk Guarantee Scheme for support to public private partnerships in creating world-class Technology Business Incubators (TBI)," it added.
This scheme envisages a PPP model of implementation with infrastructure creation, incubator creation and seed funding of start-ups all under one roof to eliminate red-tape in project implementation and make it start-up-friendly with quick clearances, it said.
"The scheme is modelled on Israel's proactive plans in early 1990s, which have catapulted Israel into major global start-up hub. The total investment will bring 500,000 sq ft of incubation infrastructure across Andhra Pradesh creating a density that would create a mini silicon coast as the first core cluster of a start-up ecosystem," it said.
Areas targeted are futurist technologies like Mobile-Internet, Internet of Things, Social Media, Analytics and Cloud (SMAC), Electronics, and Fabless Semiconductors etc.
Currently, according to the state government, major incubators in India are mini-incubators, in terms of capital and planned with an outlay of Rs 5 crore for a 5 year period.
"Our long-term vision is to create a new entrepreneurial civilisation by integrating 'Make in India, Skill India and Digital India' to create a Start-up India. Creation of employment, knowledge and wealth in India through start-ups is our priority. I want our youth to not just be job seekers, but also job creators," the Chief Minister was quoted as saying in the statement.
