In order to create a technology startup ecosystem in the state, the Government of Andhra Pradesh, in partnership with NASSCOM, has announced the inauguration of the NASSCOM StartUp Warehouse in Vizag where technology entrepreneurs with innovative ideas will be nurtured, mentored as well as funded by venture capitalists and investors.
In order to create a technology startup ecosystem in the state, the Government of Andhra Pradesh, in partnership with NASSCOM, has announced the inauguration of the NASSCOM StartUp Warehouse in Vizag where technology entrepreneurs with innovative ideas will be nurtured, mentored as well as funded by venture capitalists and investors.R. Chandrasekhar, President, NASSCOM, signed the MoU for initiating NASSCOM 10K activities at Sunrise Tower Vizag in presence of Chief Minister N. Chandrababu Naidu.
Aiming to create a micro ecosystem where startups and entrepreneurs can work together and share experiences, ‘NASSCOM 10,000 Start-ups’ is setting up ‘warehouses’ across states. The new NASSCOM StartUp Warehouse in the city of Vizag will provide a co-working space for startups to be housed for 6 month incubation terms, co-working space for entrepreneurs to use on daily/weekly basis and a well-equipped community events space available for meet-ups & workshops. The entrepreneurs will have a list of benefits which could help polish their entrepreneurial skills as well as improve upon their marketing abilities by way of Connect sessions, early stage mentoring and access to resources from Google, Amazon, Microsoft, IBM cloud, Kotak etc.
“To create a more vibrant start up ecosystem in the region we need partnerships like these which help in encouraging the local entrepreneurs. NASSCOM is doing tremendously well in support of the start-up ecosystem in the country. We need such collaborations in every city to boost this ecosphere. The State Govt. will extend all support to the NASSCOM Start-up Warehouse at Sunrise Tower Vizag, to ensure creation of a world-class technology start-up ecosystem in the city,” said CM N. Chandrababu Naidu.
The first startup warehouse was set up in Bengaluru in 2013, followed by Kolkata, Navi Mumbai, Pune, Kochi, Gurgaon and Hyderabad. Since inception of Start-up Warehouses, 140 start-ups have got incubated so far across cities, from which 25 number of startups have got funded. The 10,000 Start-ups program has initiated start-up warehouses across different states to create a micro-ecosystem where many start-ups and entrepreneurs can work together and share their experiences with each other. The environment will result in a collaborative approach and a rub-off effect of working alongside with people who share a passion towards solving some of the problems faced by society, consumers, businesses etc.