The Vision envisaged for the new Innovation &Start-up Policy:
“To create a world class ‘technology start-up ecosystem’ by fostering ‘entrepreneurship and a culture of innovation’ which contributes to increased knowledge, wealth and employment in our society.”
The targets laid out for the Andhra Pradesh through this Policy by June 30 2019 are:
• 100 Incubators / Accelerators to be established.
• 5,000 Companies & Start Ups to be incubated
• 1 million sq ft of Incubation Space to be developed
• Venture Capital of Rs 1000 Cr to be mobilized for Innovation
• Foster Innovation Culture • Create at least one home grown billion dollar technology start-up.
The Policy would have following Niche Themes as focus in the initial period:
• Internet of Things (IoT)
• ‘IT for X’ in the areas of Pharma, oil & gas, urban management.
• Social Media, Mobility, Analytics and Cloud Computing (SMAC)
• Fables Semiconductors
• Animation & Gaming • Entertainment
• Visual Effects • Health and Fitness • Automotive.
A customized index would be created to track the quality of innovation ecosystem over time in the State by benchmarking to the National and International levels.