Andhra Pradesh and SIDBI to set up Angel Fund for Startups

Exam-focused facts from the 30 May 2026 current affairs briefing.

Key facts

The Andhra Pradesh government will create an angel fund for startups in collaboration with the Small Industries Development Bank of India (SIDBI).
The fund is aimed at deep-tech startups in artificial intelligence (AI), deep tech, electronics, quantum technologies, and advanced manufacturing.
A dedicated seed fund is being launched through the Ratan Tata Innovation Hub (RTIH) in collaboration with SIDBI.
Electronics and IT minister Nara Lokesh stated that the platform through RTIH and SIDBI will provide deep-tech startups access to capital, real-world use cases, and the ecosystem needed to scale globally.
The RTIH will focus on sectors aligned with the state's economic strategy, including AI, electronics manufacturing, clean energy, and quantum technologies.