APIS joins hands with DTNF to foster innovation culture in AP
Inks MoU with the aim of creating new business ventures for startups/entrepreneurs and generating sustainable social and economic value
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Visakhapatnam: AP Innovation Society (APIS), an autonomous body under the Department of IT, Electronics and Communications and DeepTech Naipunya Foundation (DTNF), a Section 8, not-for-profit organisation run by experienced persons from the industry, have entered into an MoU to promote innovation culture across Andhra Pradesh in a big way.
The MoU signed at the Artificial Intelligence and Cloud Summit organised by DTNF here on Saturday, envisages to build a collaborative relationship to develop new business ventures for startups/entrepreneurs and create sustainable social and economic value with the resources available with both organisations. The two signatories to the MoU will put forth concerted efforts in providing resources, both tangible and intangible, in assisting each other in the collaborative relationship.
Under the arrangement, APIS CEO Anil Kumar Tentu, told Bizz Buzz on Sunday that the startups affiliated to the society will get the mentoring support, industry connect and industry use case access from the DTNF.
DTNF Founder and Chairman Sreedhar Kosaraju said the foundation committed to popularise deeptech, will also facilitate providing business opportunities to expand their base to the promising startups from the State.
He said they along with APIS will provide all the required support including venture capital funding and mentoring by domain experts to the startups. He said they handhold the startups in getting the right opportunity in the United States and other parts of the world.
DTNF will support APIS in creating corporate connect for their incubated startups.
On the other hand, APIS will work in association with DTNF to utilise its platform and offerings to associated incubators and startups.
On the deliberations at the first of its summit, Sreedhar said AI and cloud computing have become integral parts of every industry, serving as fundamental components in a wide array of solutions. Acknowledging their universal impact, the summit brought together esteemed speakers from MNCs and high-tech companies like Microsoft, JP Morgan, Ericson, SAP and Capgemini across India and venture capitalists from Silicon Valley. He said the disruption caused by deeptech like AI may render some jobs in content development and medical transcriptions redundant, it will also throw up new opportunities for employment and growth in the emerging technologies like robotic science, data mining and science, cyber security and various types of analytics.
