Boosting ‘tech-savvy’ element, Andhra Pradesh allots Rs.100 Cr as separate fund for budding entrepreneurs

Amravati, September 14: To give a boost for budding entrepreneurs, Andhra Pradesh planning to allot $15.6 Mn; this costs around Rs.100 Cr in Indian currency. Chief Minister Chandrababu Naidu announced that the state will create separate start-up fund for budding entrepreneurs. 

The Chief Minister and National Research Development Corporation (NRDC) Chairman and Managing Director H. Purushottam also signed a MoU to encourage start-ups through AP Innovation Society (APIS).

Talking about the move the CM said, “Technology and Internet of Things are a deadly combination. Being a tech-savvy government, we want to encourage our youth in all possible manners to become entrepreneurs.”

The Chief Minister was speaking at Indian Innovators’ Association (IIA) International Innovation Fair. He further added that besides creating a comprehensive ecosystem, the government was also looking to help budding entrepreneurs through mentoring, help in filing patents and financial support.