Andhra Pradesh Innovation Society

Andhra Pradesh Innovation Society

Guides » Government Initiatives » Andhra Pradesh Innovation Society

Andhra Pradesh Innovation Society

The State of Andhra Pradesh, among other states, shares the dream of an India where new generation software products would be manufactured, thereby creating multiplier effects in the growth of the state and nation, employment creation, and social transformation. Andhra Pradesh Innovation Society has been formed as a dedicated agency which strives to create an ecosystem that produces an entrepreneur in every family. The Society would form a part of the ITE&C Department, which is designated as the nodal department for supporting the development of startup innovation ecosystem in the State. It engages in the training of entrepreneurs through Incubation Centres and facilitates the commercialization of ideas of start-ups through product development, market research and exposure. It invites budding entrepreneurs into its fold so that they could get on with their aspirations. Such aspirants may register their names and details through the website of APIS.

Vision

The Society is established with the vision of creating a state-of-the-art start-up ecosystem by fostering entrepreneurship and a culture of innovation, which would, in turn, enhance the scope of knowledge, wealth and employment.

Objective

The project envisions the following:

  • The establishment of 100 incubators/Accelerators.
  • The incubation of 5,000 companies and start-ups.
  • The development of 1 million square feet of Incubation Space.
  • Fostering a culture of innovation.
  • The mobilization of 1000 crores of venture capital for innovation.
  • The formation of at least one homegrown billion-dollar technology start-up.

Focus Themes

The policy focuses on the following Niche Themes:

  • Internet of Things (IoT)
  • ‘IT for X’ in the sectors of Pharma, oil and gas, and urban management
  • Social Media, Mobility, Analytics and Cloud Computing (SMAC)
  • Fables Semiconductors
  • Animation & Gaming
  • Entertainment
  • Visual Effects
  • Health and Fitness
  • Automotive

Five Pillars of Innovation

The policy of innovation would be based on five pillars, namely Shared Infrastructure, Accelerators /Incubators, Human Capital, Funding, and most importantly, a system of Good Governance (State Support). The efforts and activities to be undertaken in these areas are provided below.

Shared Infrastructure

The first of the five pillars entail the creation of a world-class shared infrastructure to facilitate technology product Startups to operate without costs and for technology service Startups to operate at nominal costs until it reaches a stage of self-sufficiency.

The Government would encourage the Host Institutions of existing Technology Business Incubators (TBI’s) for setting up their TBI’s in the state to kick-start the Startup Ecosystem. Innovation and Capacity Building Mission would then study the existing models of Incubation/Startup centres across the various locations so as to opine on the development of facilities and shared infrastructure. Apart from this, physical incubation infrastructure will be established through Public-Private Partnerships.

The Government would facilitate the creation of support infrastructure for developing an innovation ecosystem which may attract new entrepreneurs. This includes:

  • Common Testing labs and Tool Rooms
  • Enterprise Software and Shared hardware
  • Shared services like legal, accounting, technology, Patents, and Investment Banking
  • Other amenities and facilities like individual accommodation and hostel rooms
  • Community for Startups

Accelerators and Innovators

The Government proposes to establish at least one world-class Accelerator/Incubator by inviting Global Accelerators and Incubators to set up their programs in the state. Also, it would encourage small Accelerators/Incubators in multiple locations by providing support and space to bring in expertise and Startups in Incubation Centres through diverse models. As of now, Incubation Centres are located in Vizag, Kakinada, Anantapur, and Tirupati.

The other objectives of this pillar include:

  • Partnering with incubators who have been successful In India and abroad so as to replicate their successful model of funding and mentoring.
  • Partnering with accelerators by providing support and space to bring in expertise that could help in the operation and management of the Incubation Centres.
  • Focusing and monitoring the proceedings of the initial batches/groups in the Incubation Centres.

Funding

The Government intends to create an Initial Innovation Fund of Rs 100 crores for entrepreneurs and businesses, which would be in the nature of Fund of Funds. Its nature doesn’t entail direct investments into Startup companies but involves participation in the Capital of SEBI approved Venture Capital Funds.

Governance of Innovation Policy

To inculcate a culture of sound governance, an empowered Andhra Pradesh Innovation Council would be formed with the representatives of industry, incubators and other stakeholders. The Council would administer the incentives in a speedy, time-bound and transparent manner. To propel innovation and capacity building, an empowered mission would be set up. This mission would be headed by a Technocrat with a proven record of promoting innovation in technical areas, and would comprise of three experts; one each in e-Governance, Electronics and IT; as well as three academicians and industry representatives.

Facilities

Here’s a glimpse of some of the featured facilities of this startup policy, besides the specifications that have been mentioned above:

Co-Working Space

The Andhra Pradesh Innovation Society provides a space for entrepreneurs to enhance productivity and cultivate collaboration, which in this case would be in the form of Sunrise Startup Factory. The co-working space is now located in all four Incubation Centres, i.e., Vizag, Kakinada, Anantapur, and Tirupati, while a branch of it will soon be launched in Amaravati. These spaces make for a culturally diverse community which is most appropriate for entrepreneurs and startups, as they may innovate and create strong networking opportunities.

It provides them with state-of-the-art facilities, which includes:

  • High-speed Wi-Fi
  • Power outlets
  • Power backup
  • Meeting rooms
  • Digital infrastructure
  • Company registration/document support

IP Facilitation Center

An Intellectual Property (IP) Facilitation Center has been set up in collaboration with the National Research Development Corporation (NRDC) to render startups, MSMEs, industrial and academia across the State with facilities connected with IP services, which would include the domains of science and technology such as patent filing, copyright, trademark registration, technology transfer and Commercialization services.

Drone Manufacturing and Innovation Center

The Drone Manufacturing and Innovation Center has been set up to facilitate the manufacture of drones, as well as to make provisions for research and development in Reverse Engineering Lab.

IoT Centre of Excellence

The IOT Centre of Excellence has been created by the Andhra Pradesh Innovation Society in collaboration with NASSCOM. The state-of-the-art facility will host a physical lab and Incubation Centre that creates prototypes for addressing the needs in the sectors of health, agriculture, water, transport and energy. Moreover, it validates solutions for horizontal scenarios like smart cities, smart manufacturing, privacy, security and standardization of protocols.

General Services

Other general services of the Society include:

  • Self-Certification/Third Party Certification to Startups under the applicable labour laws
  • The provision of Innovation Awards to selected ventures.
  • Option for selected ventures to furnish a Suo Moto proposal under this category.
  • Guidelines on Seed Funding

Special Services

The Society would render the following special services at a subsidized cost:

  • Company Registration
  • Accounting
  • Audit
  • Taxation
  • Legal

Registration to these services could be done by either visiting the home page of the portal or by contacting the Society. The contact details are mentioned below:

INFO SIGHT 2nd Floor,
Survey No.78/2,
Tadepalli,
Pathuru Junction
Guntur District,
Andhra Pradesh,India


Income Tax eFiling

We have made the Income Tax eFiling, simple and easy. File your income tax return online with the dedicated Tax Experts support from IndiaFilings.


Authorised eReturn Intermediary

IndiaFilings.com (ERI ID: ERIA100945) is an Income Tax Department authorised eReturn Intermediary.



Leave a comment