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Proceedings of the Inauguration of ACC Business Incubator ::

Andhra Chamber of Commerce Business Incubator was inaugurated on April 8, 2017 at a function organised at Hotel GRT Grand, Chennai.

Shri N.Ravi, Director, The Hindu was the Chief Guest and Shri P.V. Subba Reddy, General Manager, Bank of Baroda was the Guest of Honour. Smt. V.L. Indira Dutt, President, Andhra Chamber of Commerce welcomed the Chief Guest, Guest of Honour, Invitees and Members present.

In her welcome address Smt. V.L. Indira Dutt observed: “The three hallmarks of entrepreneurship that have made our country what it is today but that have to be renewed ‘if our march into the future is to bring us greater fame and growth.

In alignment with the Start-up momentum in the country, Chamber has set up a Business Incubator, first of its kind to be started by a Business Chamber in the country, to promote and nurture Entrepreneurship by encouraging newgen entrepreneurs to set up businesses under the aegis of Chamber’s Business Incubator.

An event of this dimension cannot happen overnight. The wheels start rolling months in advance. It requires meticulous planning and execution and an eye for details.

I have been fortunate enough to be backed by a team of very motivated and dedicated colleagues, who know their job and are result oriented.

I cannot thank everyone enough for the involvement they have shown and the willingness they have expressed to take on the completion of task beyond their comfort zones.

A special thanks to the Incubator Committee and I congratulate them on completion of the task of putting together the Incubator Centre.

On behalf of the Executive Committee of Andhra Chamber of Commerce and on my own behalf my special thanks are due to all of you for kindly acceding to our request to join us here today.

Your very presence here today inspite of your busy schedule is a reflection of the importance that you attach to the cause of skill developments.

A Chinese proverb states that “a Journey of a thousand miles starts with the first step and the first step we have taken today with the inauguration of the Centre. I am confident that we can make this movement roll”.

The programme commenced with invocation song. The dignitaries lighted the lamp. Smt. Nina Reddy introduced the Guest of Honour Shri P.V.Subba Reddy, General Manager, Bank of Baroda and Smt. Jayashree Manradiar introduced the Chief Guest Shri N.Ravi. Smt. V.L. Indira Dutt, President and Shri C. Nagendra Prasad, Vice-President honoured the Chief Guest and Guest of Honour with Shawl and flower Bouquets.

Smt. Ramavenugopal, Chairman, Entrepreneurship Development Sub-Committee in her address stated that the 89 year old Andhra Chamber of Commerce has set up a business incubator to promote and nurture entrepreneurship. The eight-seater incubator is at the basement of the Chamber’s office. The incubator will have an intake capacity of eight incubatees in the initial stage and the minimum lock-in period permitted is two years.

The Incubatees will be provided with business idea assistance, funding and marketing. The focus will be on non-tech business ventures like retail, education, hospitally and healthcare.

Shri P.V. Subba Reddy, General Manager, Bank of Baroda, in his inaugural address said, “Start-up activity is gaining momentum in India. Banks are also coming forward to provide loans to the tune of Rs. 10 Lakh up to a crore are being disbursed by various banks”

Shri N.Ravi, Director, Kasturi and Sons, who delivered the keynote address, suggested the Chamber reach out to more students and entrepreneurs. He also said that earlier companies started small and grew big. Today, start-ups get absorbed by big companies. The temptation of promoters to sell off comes in between and is growing”.

Dr. E. Bhaskaran, Deputy Director, EDI and Shri T. Victor, Mentor, BYST spoke on the occasion highlighting the functions of EDI and BYST. Shri Chola Nachiar Rajasekar, President, Tamil Chamber of Commerce, Shri M. Razzack, President, Hindustan Chamber of Commerce spoke on the occasion congratulating the Andhra Chamber of Commerce for its innovative project – Business Incubator towards development of entrepreneurship in the Country.

Smt. V.L. Indira Dutt, President presented mementos to the Chief Guest and Guest of Honour as a token of our appreciation and respect.

Dr. M.K. Muthuvelu, Treasurer of the Chamber compered the entire programme. The programme concluded with a vote of thanks proposed by Smt. Asha Rammohan, E.C. Member. M/s. G.R. Thangamaligai Pvt. Ltd. Members of the Chamber sponsored the mementos. The event was followed by Dinner hosted by the KCP Limited, Life Members of the Chamber.

The detailed programme will be published in the ensuing issue of our Information Bulletin.

Press coverage Video of the Inauguration of Incubator ::
 
 
Photographs and Press Note taken on the Inauguration of the above ::      








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