On a mission to spread innovation culture

In a bid to replicate the success stories of Silicon Valley, Stanford University and other institutes in transforming start-ups into billion-dollar companies, TiE (TheIndus Entrepreneurs) Amaravati, is keen on strengthening the ecosystem in Andhra Pradesh (AP).

“We are on a mission to bring venture capitalists/angel investors, mentors, legal experts and provide used case repository to create a comprehensive ecosystem,”TiE Amaravati president Sateesh Andra told
The Hindu
.

Used case repository provides solutions to problems encountered by leading industrial, financial and medical firms. They are case studies open to all for reference.

With a decade-long experience in Silicon Valley, Mr. Andra said AP has a huge talent pool, and with little bit of patronage it could emerge as a prominent start-up hub. He predicted a bright future for Visakhapatnam, Amaravati-Vijayawada region,Tirupati, Anantapur and Kakinada in turning into start-up centres.

TiE was set up in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives and senior professionals with roots in the Indus region. Presently it has 13,000 members including over 2,500 charter members in 61 chapters spread across 18 countries.

Technology focussed

Managing director of Endiya Partners, a venture capital firm, Mr. Andra said with the commitment of the State Government, they had been working with the AP Innovation Society (APIS) to promote a start-up culture in the State by encouraging innovation and out-of-the box ideas. The focus, he stated, was on technology start-ups.

When asked the reason for slow start in making start-up hubs in Visakhapatnam, Vijayawada and Tirupati, and response not being up to the mark, he said overnight nothing was possible.

“Even Silicon Valley and Hyderabad took a long time in becoming destinations for investment in IT,” he remarked. “Our effort is to guide educational institutions to set up and scale up entrepreneurship cells, incubation centres and nurture student entrepreneurs and facilitate establishment of start-ups on campuses,” he said.

Success story template

Experts from Silicon Valley, Stanford, University of California (Berkeley), Harvard,IIM-Ahmedabad, IIIT-Hyderabad, and other centres of excellence are being brought to the State to narrate their success stories.

Mr. Andra said as part of their mission to foster entrepreneurship by offeringmentorship, networking, education, incubation and funding, they would hold a workshop in association with APIS on developing entrepreneurship and enterprise in educational institutions in Visakhapatnam on July 13. IT Minister Nara Lokesh and HRD Minister Ganta Srinivasa Rao will participate.

Educational institutions, incubation centres, accelerators, other ecosystem enablers and government officials will participate to finalise an action plan for future.

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