Nara Lokesh Invites Entrepreneurs To Invest In AP

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Nara Lokesh Invites Entrepreneurs To Invest In AP:- The Minister for IT, Panchayat Raj, and Rural Development, Government of Andhra Pradesh, Nara Lokesh has invited entrepreneurs to invest in AP.

Lokesh said that the AP government acts as a catalyst to promote entrepreneurship in the State. Presenting the Entrepreneur of the Year (EOTY) awards, at an event organized by the Entrepreneur’s Organization (EO) in Coimbatore on Wednesday that around Rs 400 crore had been invested by the AP government, to take fibre network connection to individual households. So far, one lakh households have been benefited from it and also plans to expand this to one million connections by the end of this year. This will create an ecosystem for entrepreneurship.  

Lokesh inviting entrepreneurs to invest in Andhra Pradesh, he said majority of the population in the country was young and aspiring and this helps develop products and technologies that can be taken to the farmers and the needy.

Different States face various levels of challenges. The government has to be a catalyst. As he competition is quick and there is no level-playing field. However, the entrepreneurs need to look at every crisis as an opportunity. “The second and third generation entrepreneurs should become generators of wealth and economic activity and not consumers of wealth,” he said.

According to Abhay Mehta, Regional Director of EO, the focus of the organization was on women and first generation entrepreneurs. It also encourages its members to do social business.

Siva Balakrishnan, GSEA, Coimbatore chair, told media persons that the Coimbatore finals of the Global Student Entrepreneur Awards (GSEA) of the EO will be held here in December this year. Students in undergraduate or post graduate programmes who are running a business can apply. The finalists will take part in the regional finals. The global finals will be in Toronto next April. Last year, 25 applicants were found eligible from Coimbatore for the city-level competition and two took part in the India finals.

The Accelerator programme for small and medium-scale businesses, would soon be launched by the Coimbatore chapter of EO. Select companies, would go through a structured one year mentoring programme so that they are able to grow, he added. The companies which have a turn over of less than Rs 2 crore.

Jayanthra Jayachandran, chair of EOTY, said the aim of the EOTY awards was to promote, recognize, and inspire entrepreneurs in the region. This was the fifth edition of the EOTY awards and the nominations were received only through the EO website.

Over 120 nominations were received by the organization  and the winners are: P. Nataraj, Managing Director of KPR Mill (Established Entrepreneur of the Year), T. Rangaraj, CEO of Madhampatty Thangavelu Hospitality (Emerging Entrepreneur of the Year), and Ranjana Singhal, partner of the Terra Co (Woman Entrepreneur of the Year).

(Image Source: ABN Telugu)


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