Hyderabad :

Singapore-based GOVIN Capital intends to incubate 100 startup companies at an Andhra Pradesh Government-constructed centre in Visakhapatnam and nurture 1,000 students as first generation entrepreneurs over the next five years.

The State Government today entered into an MoU with GOVIN Capital, which had expressed interest to associate with it as a pilot incubator at the 50,000 sq ft Sunrise Startup TRIP incubation tower in the port city, where it would now set up a facility in this regard.

The tower had been constructed as part of the State’s innovation and startup policy “2014-2020”.

“The objective of the Government is to establish 100 incubators/accelerators. It also aims to incubate 5,000 companies/startups and nurture 1,000 students as first generation entrepreneurs over the next five years,” an official release said.

source: http://www.economictimes.indiatimes.com / The Economic Times / ET Home> News> Emerging Business> Start Ups / by PTI / February 21st, 2015