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Andhra Pradesh signs MoU with NASSCOM to encourage startups

Startups today are the latest buzz in town. With the central as well as state governments are working towards creating a cohesive environment for startups to grow as well as generate havoc employment. Andhra Pradesh on Tuesday has signed a memorandum of understanding (MoU) with National Association of Software and Services Companies (NASSCOM) to encourage startup and incubation centres.

  • The MoU was signed between Information Technology and Communications Minister P. Raghunatha Reddy and NASSCOM President R. Chandrasekhar in the presence of Chief Minister N. Chandrababu Naidu.
  • Under the 10,000 Startups initiative, NASSCOM has announced of establishing a warehouse in Visakhapatnam to nurture entrepreneurs those have innovative ideas and provide them mentorship and funding from venture capitalists and other investors.
  • The warehouse also will provide working spaces for startups for an initial period of 6 months and it will also facilitate entrepreneurs to use the working space on either daily of weekly basis. Also, community events and conferences will be organized to help startups meet investors and business honchos.

 (Source: The Hindu)

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