Visakhapatnam: Andhra Pradesh is a potential place for startup companies to encourage the young entrepreneurs as well as to strengthen the economy, said DH Consultants Pvt. Ltd Group chairman Shailesh Haribhakti here on Friday.
He was the guest of honour at the inauguration of startup incubator on Gitam University campus, established under the joint aegis of Gitam School of International Business (GSIB) and Mumbai-based knowledgeware firm Re-Engineering Business Solutions (RenB).
He observed the startup concept would solve the unemployment problem by encouraging the youth to establish their own enterprises with limited investment.
He said that the changing consumer behavior was giving opportunity to the younger generation to commercialise their ideas through startups.
He appreciated the AP government for rightly capturing the young aspirations and planning for digitalisation. He hoped that the new state capital Amaravati would be the right place to encourage the startups.
Gitam University Vice-Chancellor Prof. M.S. Prasada Rao inaugurated the startup incubator on the premises of GSIB and said that younger generation must take the advantage of government policies.
GSIB director Prof. V.K. Kumar said the school will provide the physical infrastructure and academic support and RenB will implement the Startup Business Building Programme for the startups.
He further explained that the startup incubator is an integral part of the plan to develop entrepreneurship by GSIB and it is in line with the Government of India’s thrust for startups in the country.
RenB founder and chairman Vincent Fernandez said that the model of place + mentor + funding enablement is just enough for startup success.
He mentioned that the GSIB/RenB startup incubator is different from many others and that it supports the young entrepreneurs to set up the startups confidently.
