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AP govt forging alliance with startups to resolve social problems

Invites startups with innovative solutions to address various public problems

Binance Labs announces $500 mn fund for Blockchain, Web3.0 startups

Binance Labs announces $500 mn fund for Blockchain, Web3.0 startups

Visakhapatnam: Andhra Pradesh government is the biggest service provider and the largest spending entity to offer services to the people, when compared to any other organisation in the State. AP Technology Services (APTS) is willing to sign a memorandum of understanding (MoU) with any tech startup, which has a way of solving various problems of the public.

As a panel speaker, APTS Managing Director Nanda Kishore Reddy said this while explaining the efforts of the AP government to support the startups in the State during a panel discussion on "Startup: Is there an India template for startups?" during the second day of Bizz Buzz Business Conclave (BBBC) here on Saturday.

He said, "AP government is providing a plethora of services and it welcomes the startups that have innovative solutions in areas like agritech and fintech. We have already identified some departments and are looking for tie-ups with startups that have problem solving capabilities. The State government has decided to sell movie tickets, which is an opportunity for the startups."

While focusing on new investments, the APTS has recently tried to explore the opportunities at the Indian Navy. Its MD was shocked to know that 90 per cent of their components are being imported from abroad, whereas at least 60 per cent can be manufactured at local micro, small and medium enterprises (MSMEs).

The State government has been supporting the startups in numerous ways. It has kept aside a venture fund of Rs 100 crore for the startups. The State has several incubation centres that have a mentor pool, testing labs and enough built-up co-working space for the startups. Apart from these, two centres of excellence are also available in Visakhapatnam, he informed.

During the session, Ravi ETV, CEO of Andhra University Incubation Council (A-Hub), spoke about the incubation facilities at the campus. He said that the AU has partnered with several enablers in the startup ecosystem. As a moderator, when Crayon Data Co-Founder Ivaturi Vijaya Kumar asked can entrepreneurship be imbibed, he said: "The startup journey is an experiential learning."

To the same question, mental wellbeing solutions startup All Is Well Founder Harshita Lalchand also said that entrepreneurship can be learnt with experience. "Even if the startup fails, the entrepreneurs need to stand up again and keep going until they achieve success," she said, adding that her startup journey started by setting up a finishing school to bridge skill gaps.

In the same session, serial entrepreneur K Hemalatha shared her entrepreneurial journey from connecting the local weavers to the corporates. "Most of the time, things won't work for the startups and the entrepreneurs should always have an option ready with them, and that's how I chose e-commerce," she said.

N Sharath Chowdary
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