Nara Lokesh, son of Chief Minister of Andhra Pradesh, met with a group consisting of more than thirty AP NRI entrepreneurs from Silicon Valley. On this occasion he also launched AP NRI Entrepreneurship Foundation.
The foundation was formed to foster entrepreneurship among AP NRIs and to create a channel to connect AP NRI entrepreneurs with the state government. The vision also intends to drive investments and create value in the state tapping into the intellectual capital and investment potential of AP NRIs in both traditional businesses and innovative startups.
The foundation was initiated by Krishna Mattaparti, Jayaprasad Vejendla(JP), Vinay Paruchuri, Kumar Vidadala and others under the leadership of Jayaram Komati, an eminent Telugu NRI leader and entrepreneur. The group intends to expand this working and collaborating with similar associations.
JP explained the Mobile Enterprise Messaging platform (TeamToq) his firm launched and how it could be used for eGovernance. He also explained about how the state government and NRIs could work together in the skills development for the under served people and areas. Kumar gave an overview of how ProcessWeaver, the firm he founded in 2007 along with his brothers in Guntur become the first software product development company in Guntur.
This initiative intends to connect budding entrepreneurs with business veterans, domain experts, investors, financial institutions in the state and the government to facilitate new business in the state.
Krishna explained that the foundation is also planning to formally launch a dedicated business web portal (http://apinvest.in) with social media capabilities, which they are currently piloting. The portal would act as an online platform providing various resources, data and tools to help budding entrepreneurs and to create a regional business to business ecosystem in the state.