Andhra University’s innovation incubator, known as a hub, is rapidly establishing itself as a key player in the global startup ecosystem. In a major milestone, a hub is now mentoring startups in Mauritius through both physical and virtual cohort programs. This move signifies a significant leap for the incubator, which also continues to support other startup incubators across Andhra Pradesh. Additionally, exciting plans are underway for launching a new incubation center in Hyderabad, according to CEO Ravi Eswarapu.
In an interview with Deccan Chronicle, Ravi highlighted that a hub, which was established in March 2022, has quickly gained prominence as one of India’s fastest-growing academic incubators. Focusing on a sector-agnostic approach, the incubator supports startups in industries like technology, pharmaceuticals, biotech, marine, food, energy, environment, rural/tribal, and social impact sectors.
Ravi outlined the incubator’s ambitious goals: “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 ₹2,500 crore in exports or import substitution, and generating over 2,000 full-time jobs on campus by the end of 2025.”
Currently, a hub operates within the university’s ecosystem and collaborates with notable incubators like the NASSCOM Center of Excellence in AI & IoT, as well as the soon-to-launch STPI Next Gen Incubation Center. The incubator already occupies 65,000 square feet, housing 186 active startups, 88% of which are revenue-generating. To date, 24 startups have successfully graduated from a hub, collectively securing ₹129 crore in funding and employing 620 full-time staff.
The incubator’s impact is far-reaching, with startups involved in cutting-edge technologies such as space tech, AI, data analytics, IoT, robotics, drones, augmented reality, and defense. Notably, a hub stands out as the only incubator globally to achieve financial sustainability within just three months of operation.
With its ongoing expansion, global outreach, and successful startup mentorship programs, a hub is on track to become one of the leading innovation ecosystems in India, fostering entrepreneurship and technological growth not only locally but across the globe.
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