STPI Aims to Boost Startups and IT Infrastructure with Strategic Initiatives

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Posted by pallavi on 2024-08-09 07:51:06 |

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Arvind Kumar, Director General of the Software Technology Parks of India (STPI), emphasized the importance of strategic data center placement and outlined ambitious plans to support startups at the ABP Group’s flagship event, Infocom.

In a bid to enhance the startup ecosystem, STPI has committed to providing seed capital to 300 startups by March 2024. This initiative is backed by a scheme announced by the Union Ministry of Electronics and IT in 2020, which allocated Rs 95.03 crore to fund startups across various sectors. Kumar revealed that, to date, around 65 startups have received support, and the organization is on track to meet its target by the end of the financial year. “Initially, the process was slower than anticipated, but we’ve gained valuable insights and are confident in our ability to reach our goal,” Kumar said.

Kumar also highlighted STPI’s focus on facilitating the development of software products. To this end, STPI has established 21 domain-specific Centers for Entrepreneurship (CoEs) across the country, with plans to expand further. These centers are designed to foster innovation and support startups in emerging technologies. Additionally, STPI is exploring the setup of edge data centers to improve connectivity and reduce latency. “It is crucial to establish data centers close to customers to address latency issues effectively,” Kumar noted.

The significance of data center infrastructure is underscored by its impact on IT export performance. In the 2021-22 financial year, STPI centers contributed approximately Rs 6 lakh crore to IT exports. Despite ongoing geopolitical challenges, Kumar expressed optimism about achieving a 10 percent growth in exports for the current year.

The STPI Export Awards 2021-22 were also presented during the Infocom 2022 event in Kolkata. The awards recognized the outstanding contributions of IT/ITeS STP units in Bengal, celebrating their achievements and encouraging continued excellence in the sector.

Kumar’s statements at Infocom reflect STPI’s strategic approach to fostering growth within India’s tech industry. By focusing on startup support, infrastructure development, and regional expansion, STPI is positioning itself as a key player in advancing India’s technological capabilities and economic development.

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