Date: July 07, 2022
STPI disburses seed fund to Tech start-ups for scaling up their Ventures
New Delhi/Gandhinagar (Gujarat) [India], July 7 (ANI/NewsVoir):
During Digital India Week 2022, Software Technology Parks of India (STPI) enabled funding to promising start-ups through the Next Generation Incubation Scheme (NGIS) and Centres of Entrepreneurship (CoEs) programs in order to enable the digital start-ups to scale operations and commercialize their products. In ongoing Digital India Week, 28 promising start-ups were provided seed fund/financial help of Rs 342.5 Lakh. Under NGIS 15 start-upshave been provided seed funds of up to Rs 25 Lakh. Additionally, 13 start-ups under CoEs program have been provided with funding support up to Rs 5 Lakh. With this, STPI achieves another significant milestone in supporting the start-up ecosystem.
In the formal presence of Dr Rajendra Kumar, Additional Secretary, Ministry of Electronics and IT (MeitY), Government of India, Amit Agrawal, Additional Secretary, MeitY, Dr Jaideep Kumar Mishra, Additional Secretary, MeitY, Bhuvnesh Kumar, Joint Secretary, MeitY and Arvind Kumar, DG, STPI announced the 28 recipients of seed fund.
These 28 startups are members of the STPI Startup ecosystem, which includes CoEs and NGIS schemes. These start-ups are working in the fields of HealthTech, EdTech, FinTech, IoT, Electronics, Semiconductors, Robotics, Autonomous linked Electric vehicles, Mobility, and Gaming & Animation. In accordance with their plans. STPI at present is the nation's biggest ecosystem for tech startups which offers a state-of-art incubation facility, cutting-edge technological labs, mentoring, market connections besides other services to nurture start-ups to make them ready for the market. Seed funding is provided to startups for concept validation, prototype development, market research, skill training, marketing, and other preliminary startup-related tasks.
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