The goal is to create 20,000 startups and one lakh jobs in five years : Minister Nara Lokesh

Amaravati : Andhra Pradesh IT and Education Minister Nara Lokesh has said that the target is 20,000 startups and 1 lakh jobs in five years. He said that the AP government will move forward with the goal of ‘One Family-One Entrepreneur’. Minister Nara Lokesh participated in a roundtable meeting organized by the Seoul Business Agency (SBA) with Korean startup founders in South Korea on Monday. He invited Korean startups to the Ratan Tata Innovation Hub. He said that Andhra Pradesh will be developed as the AI capital of India. RTIH will be headquartered in Amaravati. Minister Lokesh said that regional centers will be set up in Visakhapatnam, Vijayawada, Tirupati, Rajahmundry and Anantapur. He explained that RTIH has already supported more than 2,500 startups. It was revealed that the Innovation Hub has partnered with more than 5,200 entrepreneurs. He said that seed funds, deep tech grants and investment facilities will be provided to startups. He said that a deep tech angel fund will be set up in partnership with SIDBI. Let’s work together to establish an India-Korea Startup Corridor.. Minister Lokesh suggested that we work together to establish an India-Korea Startup Corridor. He said that a proposal has been made to set up a special ‘Korea Desk’ for Korean companies. He said that there will be a Korean market for Andhra Pradesh startups. He said that there will be an Indian market for Korean startups. He said that investments are being invited in logistics, fintech, deep tech and advanced manufacturing. He said that the country’s first quantum – AI university is being set up in Amaravati. He said that a 133-qubit IBM quantum system will be set up in Amaravati Quantum Valley. It is stated that the data center ecosystem will provide massive computing facilities to startups.