STPI to Launch New Centre of Entrepreneurship in Bengaluru, Enhancing Startup Ecosystem

Startup Business Economy

Posted by pallavi on 2024-08-09 08:01:26 |

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 58

---

Software Technology Parks of India (STPI), operating under the Ministry of Electronics and Information Technology (MeitY), has announced the upcoming launch of a new Centre of Entrepreneurship (CoE) in Bengaluru. This will be the second CoE in the city, focusing on efficiency augmentation to further bolster the startup ecosystem.

The announcement was made by Arvind Kumar, Director General of STPI, at the Bengaluru Tech Summit 2022. Kumar emphasized the collective effort required for startup success, noting that STPI plays a significant role by mentoring startups, providing industry connections, seed funding, and comprehensive support to foster their growth.

“The success of startups depends on the collective contributions from all stakeholders,” Kumar stated. “STPI is dedicated to mentoring startups, connecting them with industry experts, and providing the necessary resources to help them thrive.”

STPI has established 21 domain-specific CoEs across India, addressing various technological areas such as artificial intelligence, automotive technology, and financial technology (FinTech). These centers are designed to support startups by offering specialized resources, industry expertise, and infrastructure tailored to their specific needs.

The new CoE in Bengaluru will join the existing IoT OpenLab, which was set up to facilitate the development of IoT-based applications, products, and solutions. The IoT OpenLab project has a total budget of Rs 11.47 crore over five years. This includes a Rs 1 crore grant-in-aid from MeitY, Rs 3.52 crore from STPI, and Rs 6.95 crore from Arrow Electronics. According to STPI’s website, the CoE has successfully onboarded 10 startups to date.

At the Tech Summit, Kumar also appealed to industry leaders to provide startups with problem statements. He suggested that this would enable startups to develop innovative solutions that could not only cater to domestic markets but also have global applications. “Providing problem statements to startups will help them create valuable products that can be utilized both in India and abroad,” Kumar explained.

The new CoE in Bengaluru is set to enhance STPI’s efforts in fostering innovation and efficiency within the startup sector. By adding another specialized center, STPI aims to further support the burgeoning startup community in Karnataka and across India. This initiative aligns with STPI’s broader mission to drive technological advancements and entrepreneurial growth throughout the country.

Kumar’s remarks at the Bengaluru Tech Summit underscored STPI’s commitment to nurturing the startup ecosystem through strategic partnerships, targeted support, and the provision of essential resources. The establishment of this new CoE reflects STPI’s ongoing efforts to enhance the infrastructure available to startups and strengthen the overall innovation landscape in India.

With the launch of the new CoE and the continued success of existing initiatives like the IoT OpenLab, STPI is poised to make significant contributions to India’s technology sector, driving growth and fostering a vibrant entrepreneurial environment.

Go!