Andhra University. (Photo: X)
Visakhapatnam: ā hub, the innovation incubator at Andhra University, is making significant strides by now mentoring startups in Mauritius through both physical and virtual cohort programmes. It is also providing support to other incubators across Andhra Pradesh, with plans to launch an incubation center in Hyderabad soon, according to CEO Ravi Eswarapu.
In an interview to Deccan Chronicle on Thursday, Ravi highlighted that the Andhra University Incubation Ecosystem (ā hub), established in March 2022, has quickly emerged as one of India’s fastest-growing academic incubators. The hub is sector-agnostic, focusing on tech, pharma, biotech, marine, food, energy, environmental, rural/tribal, and social impact startups.
“We aim to establish one of India’s largest multidisciplinary integrated incubation ecosystems, targeting 200,000 square feet of incubation space, supporting 350 startups, achieving Rs 500 crore in exports or import substitution, and generating over 2,000 full-time jobs on campus by the end of 2025," Ravi stated.
Operating within the university, ā hub collaborates with various incubators, including the NASSCOM Center of Excellence in AI & IoT and the forthcoming STPI Next Gen Incubation Center.
Current technology startups span areas such as space tech, AI, data analytics, IoT, robotics, drones, augmented reality, and defense. Currently, ā hub occupies 65,000 square feet, hosting 186 active startups—88% of which are revenue-generating. As of May 31, 2024, it has seen 24 startups graduate, employs 620 full-time staff and secured Rs 129 crore in funding.
Ravi noted that ā hub is likely the only incubator globally to achieve financial sustainability within just three months of operation.
( Source : Deccan Chronicle )
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