Innovation State: Andhra Pradesh; A Dream, A Vision
With technology becoming pertinent in our lives, a closely knit innovation ecosystem is a critical need for a country, with the size, scale, and diversity of India. Globally, while the United States of America has been in the forefront of innovation, research and development in the recent past, Israel, a small nation, has been the leading spender in R&D and Innovation (in terms of % of GDP). In the last decade, India spent less than 1% of the GDP for R&D and Innovation. R&D in India is still largely financed by the government sources, with limited success. Out of over 5,000 Incubators across the world, India is limited to less than 1% of such incubators.
Central Government, under the leadership, has continued to highlight the need through various schemes at a national level. States and their key partners aligned to the grand vision of the present govt. have continued to struggle in giving such initiatives a shape-baring a few. One such State which has continued to focus on the need of world-class scientific and technology ecosystems, that would empower and enable its youth to carry out this exercise, to be relevant on the global map is the state of Andhra Pradesh. Under the leadership of the current CM Shri Chandra Babu Naidu, for the development of Innovation, entrepreneurship and Start-up culture in the State, Andhra Pradesh proposes to set up an Innovation & Capacity Building Mission as envisaged in the Blueprint Document “Re-Imagining Andhra Pradesh – role of e-Governance, Electronics and IT” (available on www.ap.gov.in)
The Vision envisaged for the new Innovation &Start-up Policy is:
“To create a world class ‘technology start-up ecosystem’ by fostering ‘entrepreneurship and a culture of innovation’ which contributes to increased knowledge, wealth and employment in our society.”
The State, with an intent to make the difference in the global scene of Innovation, Research and Development, Andhra Pradesh shares a collective dream of a new India where new generation software products would be manufactured, creating multiplier effects in the growth of the state and nation, employment creation, and social transformation. Some of the key features under this scheme will be on:
The Government will endeavor to create world-class shared infrastructure for technology product
Start-ups to operate at no cost and technology service Start-ups at nominal cost till the company achieves self-sufficiency.
Accelerators & Incubators:
The Government shall establish at least one world class Accelerator/ Incubator by inviting global
Accelerators and Incubators to set up their programs in the state.
Inculcating the habit and embedding the idea of innovation among all the citizens in every aspect of the economic activity is essential for promoting the culture of innovation in the people. This needs to be achieved through strong educational support to bring out innovators and technopreneurs among the youth.
The Government will work with universities, educational institutions and the industry to provide pertained manpower in emerging technologies and to foster a culture of entrepreneurship.
Funding - State Innovation Fund:
The government will create an Initial Innovation Fund of Rs.100 crore (1 billion) for entrepreneurs and businesses.
Apart from State Support, across Non-Fiscal Incentives, Public-Private Partnership Model Incubators in PPP Model. And softer initiatives like an establishment of Start-up – Bootup - Scale up Model for a Product Start-up Nation.
In line with the mega intent of making an impact, the state has rolled out StartAP Awards 2018 to enable a growing ecosystem of start-ups, with an intent to make all the stakeholders at one stage. The focus will be on inspiring young and aspiring entrepreneurs to meet, share and collaborate with the world on one platform.
Over years, around 800 entrepreneurs took the leap from idea to a developing company, craving their name in Indian success stories. Uniting people of 15 cities in Andhra Pradesh, we merged stories of passion, discipline, and creativity to go beyond business. Started in 2014, StartAP Fest has brought together over 25000 entrepreneurs, 2000+ selected delegates and public with special agenda and themed platforms that trigger conversations about the past, present and future of growing industries. With more than 70 teams that crossed their transition from a group of individuals to a prominent startup.
Since four years, StartAP Fest inspired large sets of individuals to become successful entrepreneurs. This year, the fest is happening in August, collaborating StartAP 100 program to increase the scale of showcasing one’s product or service by extending a chance to become part of best 100 in the country. Introducing StartAP Under 18 a first of its kind event valuing children and youth as prime future contributors to view and embrace innovation. The first edition will take place parallel to StartAP Fest 2018, Amaravati.
The organizers believe this time around 1000 startups will be part of StartAP 100 program with the help of StartAP Campus as a platform. The grand vision is to present 100 best startups from the state to the world through StartAP platforms. He further stated: “We aim to achieve this goal by 2020 through campus initiatives, flagship conferences and supporting ventures through an Impact Fund called StartAP Innovation Fund, to be set up soon in 2018”. StartAP is all about Passion, Vision & Entrepreneurship for the state of Andhra Pradesh.
We enable a growing ecosystem of startups, where young and aspiring entrepreneurs can meet, learn, share and collaborate with the world. In the year 2018, StartAP is initiating direct platforms for ideas, startups, service or product companies to participate with financiers, angel or personal investors, venture capitalists, investment firms, banks, entrepreneurs, and mentors to form communities where they develop ideas together in StartAP Investment Summit & Awards.
StartAP Awards apprehends the best of the best leaders, iconic stars of the business community whose finest works have been revolutionary with modern methods that have led changes in our society, by their willingness to work hard, a desire for accomplishment, and a belief of pursuing something diligently, with a strict and determined approach to follow the right path. StartAP hereby honours them with an excellence award in the pursuit of their stream as a token of achievement.
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