Andhra Pradesh and the PanIIT alumni network have agreed to create a Rs 500 crore, roughly $52M, deep tech venture fund, alongside a permanent council in the state’s capital, Amaravati.
The plan was announced at the PanIIT Andhra Pradesh Summit 2026 in Vijayawada, where chief minister N Chandrababu Naidu signed the Amaravati declaration with alumni representatives. It establishes a permanent PanIIT Amaravati World Council to partner the state government and the wider PanIIT Alumni India network.
The agreement covers 10 industry chairs in state universities, a network of 100 global IIT mentors for startups, technology transfer from the IITs, a deep tech policy package and an IIT Research Park in Amaravati. Naidu said AI and entrepreneurship skills would be taught from class six onward, and the state aims to contribute five million AI-skilled people toward a national goal of 10 million.
Quantum computing is central. Naidu launched five Q-Shiva quantum computers built in Amaravati and said a 156-qubit system developed with IBM, TCS and L&T would come online there, with the first machine running from February 3, 2027. He wants the state to eventually export quantum equipment.
India’s 23 IITs have produced around 500,000 graduates. Andhra Pradesh is betting that mobilising them can turn a greenfield capital into a deep tech hub.
