NITI Aayog to support FTAPCCI to set up incubator centres in AP and Telangana

Hyderabad, July 23 (KNN) With a view to focus on promoting Start-ups in the states, the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) will set up two incubators centres each one in Andhra Pradesh and Telangana.

Talking to KNN, the immediate past president of FTAPCCI, Anil Reddy said that NITI Aayog had given call to federation to set up two incubators in the both neighbouring states.

When asked about the funding for the project, he said that government of India will fund the projects to the tune of ₹10 crore (₹2 crore each per year) to the incubators, which will be located in Hyderabad and Vijayawada.

Federation work is to involve the entrepreneurs and other industries to enrol and support them, he added

While the focus of the incubator in Hyderabad will be on manufacturing and engineering, the Vijayawada centre will promote agri and food processing. The Chambers has tie-ups with 15 ITIs, said FTAPCCI past president.

The Chambers will draw on the strength and expertise of its 3,000 industry members to both handholds the start-ups as well as to provide support in management and marketing at later stages. (KNN Bureau)