Andhra University soon gets Technology Business Incubator from DST
Andhra University received a communication from Department of Science & Technology Ministry of Science & Technology government of India informing that the National Expert Advisory Committee (NEAC) has recommended to establish the inclusive Technology Business Incubator(i-TBI) under its NIDHI,i-TBI program at Andhra University at a cost of Rs.5 Crore subject to compliance of certain project implementation conditions for establishing the i-TBI in AU Engineering College.
The grant is for establishing incubation lab,working space,man power costs,organizing training programs,mentoring of the startups. The most important component of the grant is providing ignition grant up to ten lakhs to the startup companies which would encourage entrepreneurs to test new ideas.
The Vice Chancellor Prof PVGD Prasad Reddy and the Registrar Prof V Krishna Mohan expressed their happiness as this facility further boost the efforts of Andhra University in strengthening the startup ecosystem in the university campus and congratulated the Principle Investigator Prof Hanumanthu Purushotham the DPIIT-IPR Chair Professor, Ravi Eswarapu the CEO of AU Incubation Hub , Prof K Venkata Subbaiah, Head Mechanical Engineering and Prof P. Mallikarjana Rao, Head Electrical Engineering Department of AU Engg. College for preparing the proposal diligently and getting the approval for the very important project against a stiff national level competition.
The Principle Investigator said that it will help connecting the University to the national innovation and startup ecosystem.
The approval/sanction letter was handed over by the Hon’ble Vice Chancellor to the above project implementation team.