Upcoming startup tower in Visakhapatnam to house 300 enterprises

Visakhapatnam, Mar 10 (KNN) The Andhra Pradesh government has decided to set up astartup tower in the  port city of Visakhapatnam.

According to IT and industries minister Gudivada Amarnath, the tower will accommodate as many as 300 startups. 

“The structure would expand over five acres on one of the IT hills and it would also accommodate the industries department,” he said.

As per reports, the Andhra government will set up the startup tower on the lines of Hub in Bhubaneswar and T-Hub in Hyderabad.

The state has around 400 IT firms, including 250 in Vizag, 70 to 80 each in Rajahmundry, Kakinada, Guntur, and Vijayawada, and around 30 to 40 in Tirupati. IT exports from AP amount to nearly 6,000 crore per annum.

IT Association of Andhra Pradesh president Sridhar Kosaraju told TOI that startup companies will have a minimum 10 to 20 seating capacity and the bigger ones will have more than 30 employees.

“The startup tower is a good initiative by the government and is definitely need of the hour,” he said.

Presently, there are around 1,300 Startups operating in the state.  (KNN Bureau)