Business Incubation

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ANDHRA CHAMBER OF COMMERCE – P BRAHMAYYA Centre for Knowledge Incubation and Library

Introduction

Established in 1928, Andhra Chamber of Commerce primarily represents the MSME sector with over 1300 members. The top of the pyramid consists of companies that are multinational conglomerates.

In addition to the regular services of the Chamber, the Chamber seeks to focus on value-added services that would promote entrepreneurship and support the startup community.

FOCUS STARTUPS

Background:

Startup India is a flagship initiative launched by the Government of India on 16th January, 2016 to build a strong eco-system for nurturing innovation and startups in the country, which will drive economic growth and generate large scale employment opportunities. In this context, a Startup Cell has been established in all States to promote startups .

As of April 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized over 127,000 startups in India. This makes India the third largest startup ecosystem in the world, after the US and China.

Incubation

Dovetailing with the plans for the nation and in pursuit of the Chamber’s objective of providing value-added services to members and promote entrepreneurship, the ACC Incubation cum Library is proposed to be set up at the Chamber level. As there are many startups who are looking out for support in the beginning stages any-which-ways, it augurs well for the Chamber to provide a startup eco-system – infrastructure assistance to begin with. viz. office space and mentorship, and market assistance.

Collaboration with Anna University:

ACC has collaborated with Atal Incubation Centre (AIC) of Anna University Incubation Foundation for referrals, government deep-dive information and knowledge, technology development, specific training and orientation, mentorship & coaching, legal assistance, financial assistance – angel funding, Grants, Subsidies, and marketing assistance.   The chamber has expert knowledge in all subjects of the business domain and hence is well equipped or mentoring, funding and supporting in market networks.

FOCUS LIBRARY

Libraries Build Business

A business library is a fundamental source of information to its members as they provide resources and services to support business in its various aspects. A library can be leveraged by members to enhance their access to books, publications and journals that maybe otherwise difficult to access for them to research, plan & implement their ventures.    

A Community for Business

 Libraries help small and new entrepreneurs to expand their network and become a part of a business community for exchange of ideas and experiences, enriching their learnings to translate into better informed decision-making and strategies.  Since a library is relatively an economic option for information, this platform is primarily desired before delving deeper into expending for business. 

As ACC is primarily a Chamber for the MSMEs, a library is proposed to be set up to cater to the need of this sector for access to books and journals for business development.

Books & Journals ( physical &  e-versions) – startup support

This incubator will have an intake capacity of eight incubates in the initial stage and the maximum lock in period permitted is two years, subject to review in exceptional cases, as decided by the Chamber’s expert committee.

  1. Books on how to set up a business. While there is a flood of online information, micro and small entrepreneurs are lost in the sea of information and prefer published books for initial understanding.
  2. Books on promising practices, models, and strategies to get started with small business initiative. Bestsellers on business and management books
  3. Current Marketing Strategies
  4. Marketing Databases – e-versions
  5. Information Bulletins from various overseas Trade Bodies
  6. Export-Import Rules & Regulations and Updates

While the above is based on the queries received, the Chamber proposes to stock the most referred books under the various topics of ACC sub-committees to begin with. Online subscriptions for the use of Chamber members will be explored and implemented on the advice of President, EC members and the Sub-committees.

The immediate focus areas for books and journals would be from the following sub-committees –

  1. Company Law
  2. Indirect Taxes
  3. Direct Taxes
  4. MSME
  5. ESG
  6. Standards & Regulations RR
  7. EXIM
  8.  Marketing  & Databases

It will be the endeavour of ACC to develop the library on modern lines and serve as a place and a portal to information and a growth driver for MSMEs.

Conclusion

In conclusion, The P Brahmayya Centre or Knowledge would be a trendsetter for a Chamber and this initiative will promote the objectives of the Chamber in providing value-added services to its members and contribute to the nation’s objective of building up the next-generation entrepreneurs.

For more information, Please contact:
The Secretary General, Andhra Chamber of Commerce (ACCBI)
Ph: 044 – 24315277/ 7305043885
Email: acc@andhrachamber.com