Sri Venkateswara University (SVU) is a home to startups now, where students can give shapes to their innovative ideas.

The varsity has launched an ‘Innovation Hub’ on the campus as part of the Rashtriya Uchchatar Shiksha Abhiyan (RUSA), a scheme sponsored by the Union Ministry of Education of the Central government that aims at providing strategic funding to eligible state higher educational institutions.

The innovation hub will encourage young and aspiring entrepreneurs to float new ideas for products and solutions using the emerging technologies, besides filing applications for patents, intellectual property rights (IPR) and copyright protection. The incubation centre will be more effective in three years, enabling further investment in research and innovation, the university officials said.

Seven startups launched

Launching seven startups at a programme here on Friday, SVU Vice-Chancellor K. Raja Reddy expressed happiness over the university getting selected for a funding of ₹100 crore under the ‘Component 5 of the RUSA’.

He also spoke about developing centres of excellence in nano and micro-satellite, earth and atmospheric sciences, material sciences, herbal drug development, biosciences, water resources and bioenergy and electric vehicles.

SVU Dean (R&D) S. Vijayabhaskara Rao, who is also the RUSA coordinator, highlighted the importance of developing startup ecosystem, saying that it would help the university commission new enterprises.

M. Srinivasulu Reddy, a professor at SVU College of Management, launched ‘CAMINO’, a a startup set up by the students. Dean (Innovation) Ramashri elaborated about the efforts that had gone into creation of the ecosystem, while Technology Companies Association of Andhra Pradesh (TCOAP) president T.N. Sreenivas offered support to the students and startups.

SVU RUSA CEO Rayala Vamsikrishna threw light on the virtual incubation facilities being offered to the select startups. The Letters of Intent and Acceptance were exchanged with seven startups—CAMINO (home rentals), Take Off (coupons for online buyers), Silk Plaster (interior solutions and wall paint), Accubick (a tool for intelligence-based verification), Whistle Media (new age digital marketing), TAGS (a thematic garden concept studio) and THRIVE (beverages and frozen products company).