Andhra Pradesh Deeptech Fund Targets 25 Startups by 2030
PanIIT Alumni India and the Andhra Pradesh government have presented plans for a ₹500-crore Andhra Pradesh deeptech fund targeting at least 25 state-based ventures by 2030. The proposed PanIIT Amaravati Venture Fund was outlined at the PanIIT Andhra Pradesh Summit in Vijayawada on Saturday.
The fund is seeking capital from IIT alumni, industry and institutional investors, with a first close targeted by July 1, 2027. The precise financial commitments from PanIIT, the Andhra Pradesh government and private investors were not immediately clear.
What the Andhra Pradesh deeptech fund will do
The proposed fund will back deeptech ventures. At least 50% of the companies it backs will be expected to locate their principal research and development or manufacturing operations in Andhra Pradesh.
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The fund is part of the broader Andhra PanIIT Declaration, which also proposes a technology-transfer pipeline for commercialising IIT research in the state, a 100-member global IIT mentor network and 10 industry chairs across universities and institutions. The wider framework targets at least 50 incubated startups in Andhra Pradesh by 2030.
The state’s proposed funding match
Speaking to venture capital investors at the summit, Andhra Pradesh Chief Minister N Chandrababu Naidu said: “You bring money, you bring mentors. I will match your contribution.”
The precise mechanism through which the state would match private contributions, and whether the commitment would flow directly into the PanIIT Amaravati Venture Fund, was not immediately clear.
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