Visakhapatnam: The Andhra Government has set an ambitious goal to create 20,000 startups over the next five years through its newly introduced Andhra Pradesh Innovation and Startups Policy (4.0) in the period 2024-2029 and create at least 100,000 jobs in the next five years. The program aims to build the country as a hub of global innovation, entrepreneurship and incubation.
At the heart of this strategy is the “hub and spoke” model, in Amaravati, the Ratan Tata Innovation Hub (RTIH) acts as the core. It will be supported in five regional lecture centers in Visakhapatnam, Rajahmundry, Vijayawada, Tirupati and Anantapur. These centers will provide incubation, mentoring, financial assistance and state-of-the-art infrastructure to support grass-roots startups.
The policy’s vision is aligned with global trends, focusing on emerging technologies such as artificial intelligence (AI), blockchain, extended reality and climate technology. Economic incentives such as startup grants, interest subsidies and rental reimbursement for co-working spaces will foster startups and promote inclusion. Special grants will be provided to women, ethnic minorities and entrepreneurs with disabilities.
Additionally, the AP Launch One digital portal will provide a single-window interface for launching to access resources, guidance and funding opportunities while facilitating grievance remediation and providing real-time updates. This digital infrastructure ensures smoother operations for emerging entrepreneurs.
The state also plans to establish or expand 10 Centers of Excellence (COE) in areas such as Deep Tech, Health Tech and Advanced Manufacturing to further strengthen innovation and research. Outreach programs, boot camps and hackathons will encourage students, innovators and grassroots entrepreneurs to actively participate in the ecosystem.
Through this policy, Andhra Pradesh aims to promote a dynamic entrepreneurial environment that will not only drive economic growth but also inclusiveness, sustainability and global competitiveness.
