Amaravati: Andhra Pradesh is planning to position Amaravati as a global hub for research, innovation and emerging technologies, with a ₹500 crore venture fund and a target of incubating 50 startups by 2030, Chief Minister N. Chandrababu Naidu said.
Sharing details of the PAN IIT Andhra Pradesh Summit on social media, Naidu said the event brought together leading intellectuals and members of the IIT community for discussions on the state’s development and technology ambitions.
The summit saw the release of the PAN IIT Amaravati Declaration, which outlines a roadmap to leverage the IIT ecosystem’s expertise, technology capabilities and global network to accelerate Andhra Pradesh’s growth.
As part of the initiative, the state will establish the PAN IIT Amaravati Council as a permanent nodal platform to facilitate collaboration between the government and the IIT community. A ₹500 crore venture fund will support deep-tech innovation and help incubate 50 startups by 2030.
The initiative will focus on key sectors, including Quantum-AI, semiconductors, space and defence, HealthTech, AgriTech and the Blue Economy.
Naidu said the state’s vision was to make Amaravati an international centre for ideas, research, innovation and future technologies. He thanked PAN IIT Alumni India and the wider IIT community for joining the state’s development efforts.
He said the intellectual strength of India’s IITs, combined with the vision of Viksit Bharat 2047 and Swarna Andhra 2047, could create significant opportunities for the state’s technology and innovation ecosystem.