AP CM YS Jagan inaugurates projects worth Rs 130 crore at Andhra University

Chief Minister YS Jaganmohan Reddy inaugurated Element, housing the pharma incubation, bio monitoring hub, and four other buildings at the Andhra University campus

Visakhapatnam: Chief Minister YS Jaganmohan Reddy on Tuesday inaugurated Element, housing the pharma incubation, bio monitoring hub, and four other buildings at the Andhra University campus in Siripuram here.

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.

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Already 121 StartUps are working at the Element constructed 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. Other projects were Algorithm, a 60,000 sft structure built at a cost of Rs 35 crore opposite the Computer Science engineering wing, the 25,000 sft Andhra University School of International Business (AUSIB) with Rs 15 crore, and AU Avanti Aquacutlure Innovation and Skill Hub on 12,000 sft on the beach road, built at a cost of Rs 11 crore.