Chennai, 10th June 2024Andhra Chamber of Commerce (ACC), in an initiative to mentor the startups incubated / co-incubated through its member network, signed a Memorandum of Understanding (MoU) with Atal Incubation Centre – Anna University Incubation Foundation (AIC Anna Incubator).

The MoU was signed by Dr V L Indira Dutt, President, Andhra Chamber of Commerce and Dr P Uma Maheswari, Director & CEO, Atal Incubation Centre – Anna University Incubation Foundation. This strategic alliance will help both partners to leverage their strengths and reach out to a wider audience/startups incubated / co-incubated with AIC Anna Incubator.

Based on the MoU, AIC Anna Incubator shall co-incubate startups with ACC, and promote ACC in their events and outreach programs. Also, refer startups and co-working spaces for interested startups to ACC. The focus will be in the social sectors initially and evolve to other sectors based on the startup interests. ACC shall conduct collaborative events with AIC Anna Incubator through its member network / potential network.

Commenting on the MoU signing, Dr V L Indira Dutt, President, Andhra Chamber of Commerce said, “We are proud to be associated with AIC Anna Incubator. The Chamber has initiated an incubation centre and been the first nurturing home to at least 6 new enterprises to date, including new offering in the sea-food industry, an integrated organic waste management business model with 2 patents and 2 more in the offing and cancer research startup which is in the advance stages of testing at IIT-M Incubation Centre”.

She added, “Our association with AIC Anna Incubator aims to support startups incubated / co-incubated with AIC Anna Incubator. This MOU with Anna Incubation will strengthen the entrepreneurship drive of the Chamber in line with the PM’s vision for Entrepreneurship development including infrastructure, mentorship and startup business needs, and employment initiatives and raise the bar to match global developments”.

Commenting on the MoU, Dr P Uma Maheswari, CEO of AIC Anna Incubator, said, “AIC Anna Incubator is a Deep-Tech incubator supported by Atal Innovation Mission, NITI AAYOG, Government of India and Anna University, Tamil Nadu. In the past 3 years Anna Incubator has supported 100+ startups with varied services like Technical support, Mentorship, Investment Facilitation etc. Andhra Chamber of Commerce encompasses successful entrepreneurs and many of them could be potential business mentors and Go-To-Market strategists. Connecting with the huge member network of ACC, shall provide a great learning for the Startups. On the other hand, Anna Incubator shall provide Technical mentorship and support to the startups of ACC. I believe that this association will accelerate and provide Launchpad for many startups in the near future”.

Dr Balu Ranganathan, Co-founder CanBrs Private Limited, a startup who incubated at Andhra Chamber in the initial stages said “Andhra Chamber of Commerce has given me and my team, amazing insights into the intricacies of Indian startup ecosystem when I came down to India from Malaysia. Their Incubation Centre paves way for budding entrepreneurs by hand holding the entrepreneurs by catering their space, knowledge and mentorship needs. By the vast knowledge accrued through Andhra Chamber of Commerce, we have co-founded a biotech based healthcare medtech startup at IIT Madras Research Park. Our startup called as CanBrs Therapeutics works on breast cancer therapeutics using additive manufacturing, basically 3D printing and data analytics. Our team is very obliged to the entire team of Andhra Chamber of Commerce for their continuous support. “