Sources: 
Visakhapatnam Metropolitan Region Development Authority (VMRDA) has inaugurated 'The Deck,' a multi-level car parking facility designed to resemble a cruise ship, located adjacent to its office at Siripuram Junction.
The fifth floor of 'The Deck' will host the Visakhapatnam spoke of the Ratan Tata Innovation Hub (RTIH), a key component of Andhra Pradesh's Innovation and Startup Policy (4.0) for 2024-29. The RTIH central hub is based in Amaravati, with five regional centres acting as spokes in Rajahmundry, Vijayawada, Visakhapatnam, Tirupati, and Anantapur.
"The model will operate through dual funding from corporate and govt sources, providing seed capital and covering operational expenditure," according to policy details.
The state government plans to facilitate a capital grant of up to
Rs 250 crore for RTIH and
Rs 100 crore for each spoke centre, contingent on performance, over the next five years. This initiative aims to foster innovation and startup growth across the region by leveraging both government and corporate investments.
The innovative design of 'The Deck' not only serves a practical purpose as a parking facility but also symbolizes the city's commitment to modern infrastructure and innovation.
"The Deck' is designed to resemble a cruise ship," highlighting the urban development authority's vision to blend functionality with aesthetic appeal.
This development marks a significant step in decentralizing innovation efforts, ensuring that regional centres like Visakhapatnam actively contribute to the state's startup ecosystem under the guidance of the Ratan Tata Innovation Hub.
Sources: Visakhapatnam’s VMRDA inaugurated 'The Deck,' a multi-level car parking facility designed like a cruise ship, which will host the Ratan Tata Innovation Hub’s regional spoke. The hub, part of Andhra Pradesh’s Innovation and Startup Policy, aims to foster innovation with government and corporate funding support.
