Vijayawada: The Andhra Pradesh govt and PanIIT Alumni India have decided to establish a permanent PanIIT Amaravati Council in the capital to serve as a nodal platform for deep-tech development and connect universities, industries and startups across the state.The decision forms part of a declaration released at the PanIIT Amaravati Summit-2026 in the presence of chief minister N Chandrababu Naidu. Representatives of the state govt and PanIIT Alumni India signed the declaration.A ₹500-crore PanIIT Amaravati Venture Fund will also be created to support deep-tech startups, innovation and investment. The council will work to attract investments in quantum and AI, semiconductors, space and defence, health, agritech and the blue-water economy. It will also facilitate the transfer of technologies developed across 23 IITs and 25 innovation hubs for commercialisation in Andhra Pradesh.As part of the initiative, 10 industry chairs will be established at universities and educational institutions in partnership with industry to support research and skill development. A global network of 100 IIT mentors is proposed to guide startups and entrepreneurs in the state. Ten universities in AP will also be connected with the PanIIT ecosystem to facilitate access to research, faculty and other resources.The declaration envisages identifying startup and incubation projects, with a target of incubating at least 50 startups in AP by 2030. The council will coordinate with educational institutions, industry and startups while working to develop Amaravati as a hub for deep-tech research, technology transfer and startup activity.