Andhra Angels network soon, for Amaravathi start-ups

Andhra Angels network soon, for Amaravathi start-ups

Posted by Vivek Nama on October 26th 2017

The Indus Entrepreneurs, a global network of entrepreneurs of Indian origin, will soon be establishing the TiE Amaravati Chapter to foster entrepreneurship in Andhra Pradesh. Apart from launching the Chapter at Amaravathi, it also plans to create Andhra Angels, a network of angel investors.

 
Andhra Angels akin to the Hyderabad Angel Network, is expected to invest over Rs.100 Crore in startups over the next few years & the group is expected to form over the next six months with nearly 50 investors on board initially. An angel investor in the network would typically invest up to Rs. 1 crore in a company.
 
Start-up Focus areas
Announcing approval of TiE Board of Trustees for the new AP Chapter, Board member and Endiya Partners Managing Director Sateesh Andra said TiE Amaravati will play a crucial role in focusing on creating and nurturing the next generation of entrepreneurs. “Fintech, IT/ITeS, pharma and life sciences, manufacturing besides agriculture and food processing sectors will be our immediate focus,” he said.

 
Amaravathi Chapter
Over the next two years, the membership of Amaravati Chapter is expected to garner 40-50 charter members, up to 500 associate members and students from 20 colleges in the State. Besides the capital city of Andhra Pradesh, TiE  will also  expand its  presence in Vijayawada, Vishkhapatnam and Tirupati. TiE Amaravati will also mentor start-ups and help them scale their businesses. Along with Wadhwani Foundation, they plan to take the start-up culture to other universities across the state of Andhra Pradesh. 
 
Talking about TiE Amaravati’s focus on women entrepreneurs, Purnima Kamble of Fox Mandal& Associates said, “TiE Amaravati Chapter seeks to provide a catalytic environment to local women entrepreneurs in the state of Andhra Pradesh by focusing on giving a strong platform of networking, knowledge sharing and mentoring to women entrepreneurs thereby providing opportunities for their over-all growth through integration with the mainstream/national entrepreneurial ethos.”
 
Last month Andhra Pradesh Chief Minister Mr. N. Chandrababu Naidu  announced  Rs 100 Crore  separate fund to support innovative start-ups and budding entrepreneurs in Vizag  on the occasion of the three-day Indian Innovators’ Association (IIA) International Innovation Fair. Read here http://startup2day.in/story-fullview/andhra-cm-announces-rs-100-cr-funds-to-encourage-start-ups
 
TiE Amaravathi Chapter Board of Trustees 
Founding members of TiE Amaravati includes Srini Raju, Co-founder Peepul Capital and Chairman SriCity, J A Chowdary, Special Chief Secretary and IT Advisor to Honorable CM, Andhra Pradesh, Ramesh Byrapaneni, Managing Director, Endiya Partners, Sridhar Krishnamoorthy, Managing Director, Gerdau Steel, along with Suresh Chitturi, Sateesh Andra and Purnima Kamble of Fox Mandal & Associates & Murali Bukkapatnam, Chairman, Volksy Technologies, shall be the chapter champion from TiE Global Board of Trustees.

 

 

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