AP to invest Rs. 750 cr on 5 incubators.

Andhra Pradesh will build five incubators with an investment of Rs. 750 crore. To be executed in the next four years, these incubators would create a 'world class' ecosystem for grooming start-ups and create a 'mini silicon coast'.

These incubators, with each costing Rs. 150 crore, are being taken up under the Integrated Risk Guarantee Scheme for Support to Public Private Partnerships in Creating World-Class Technology Business Incubators (TBI).

'This scheme is aimed at promoting public-private model by creating infrastructure and providing seed funding for start-ups. This would eliminate red-tape in project implementation and help create a start-up friendly environment,' a Government statement has said.

This scheme is based on the one implemented by Israel in 1990s that helped the country emerged as a major global start-up hub.

'The investments will result in creation of five lakh square feet of incubation infrastructure in the State. We are going to focus on mobility, IoT, social media, analytics and cloud, electronics and fab-less semiconductors,' the statement said.

HBL