A model business incubation centre in Tirupati, Andhra Pradesh, has got a shot in the arm with the IC² Institute’s Global Commercialization Group (GCG) signing an MoU on April 28 with AP and the Federation of Indian Chambers of Commerce and Industry (FICCI) to start a multi-year programme.

A GCG Manager will reside in Tirupati for the first 17 months of the programme. During this initial programme period, GCG will train innovators and entrepreneurs, select start-ups for admission to the Tirupati incubator, and provide international business development services to incubating companies.

The GCG will collaborate with the FICCI to recruit programme participants from across India to support Indian start-ups interested in domestic markets.

The AP Information Technology, Electronics, and Communications Department is sponsoring the Centre.

It sees the programme as a model for AP — a State with a goal of an entrepreneur in every family, and the establishment of 100 new incubation facilities.

GCG has carried out a number of programmes in India, including the ongoing DST-Lockheed Martin India Innovation Growth Programme.

It utilises the experience and methodologies of IC² Institute to facilitate the growth and development of innovative technology-based businesses in a variety of regions worldwide, a press release from the US Consulate General here stated.

IC² Institute, The University of Texas at Austin, the US, has researched the theory and practice of entrepreneurial wealth creation and has been instrumental in Austin’s growth as an innovation and technology centre and in the development of knowledge-based economies in over 30 countries.

The MoU was signed in New Delhi. Officials from Andhra Pradesh government and IC² were present for the signing, the release said.

Source: Business Line