The Chief Minister Mr. Y.S. Jaganmohan Reddy inaugurated Element, housing the pharma incubation, bio monitoring hub, and four other buildings at the Andhra University campus in Visakhapatnam.
AU Vice-Chancellor Prof. PVGD Prasad Reddy said that the total cost of the projects is Rs 130 crore and over 300 software companies would work from the AU campus in the next three years.
The projects include Element, A Hub, Algorithm, AU-SIB, AU-Avanti Aquaculture Innovation and Skill Hub.
A Hub is Andhra University Start-up and Technology Incubation hub having 121 start-ups. It has been built at a cost of Rs 21 crore and 114 of the startups had reached the level of creating their own resources, the Vice-Chancellor explained.
Element has a 55,000 sft space and developed as a pharma, bio, genomics incubation and testing lab with nearly Rs 44 crore.
Algorithm, is the Andhra University Digital Zone and smart classrooms complex built at a cost of Rs 35 crore on 60,000 sft structure opposite the Computer Science engineering wing.
The other projects include 25,000 sft Andhra University School of International Business (AUSIB) with Rs 15 crore, and AU Avanti Aquaculture Innovation and Skill Hub on 12,000 sft on the beach road, built at a cost of Rs 11 crore.
The Chief Minister later laid the stone for the development projects of GVMC worth Rs 134.58 crore.
These include works under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) worth Rs 107.42 crore, seven works under Smart City projects worth Rs 16.10 crore and eight projects under 15th Finance Commission worth Rs 11.06 crore.