STPI Provides Seed Funding to Boost Tech Startups in India

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Posted by pallavi on 2024-08-12 06:48:14 |

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During Digital India Week 2022, the Software Technology Parks of India (STPI) took significant strides to support the growth of tech startups by disbursing a total of Rs. 342.5 lakh in seed funding to 28 startups. These startups, part of the STPI ecosystem under the Next Generation Incubation Scheme (NGIS) and Centres of Entrepreneurship (CoEs), received financial assistance to scale their operations and bring their innovative products to market.

The funding allocation included up to Rs. 25 lakh each for 15 startups under the NGIS and up to Rs. 5 lakh each for 13 startups under the CoEs program. The recipient startups operate in diverse sectors such as HealthTech, EdTech, FinTech, IoT, Electronics, Robotics, Autonomous Electric Vehicles, and Gaming & Animation.

STPI, known for being the largest tech startup ecosystem in India, offers extensive support to startups, including state-of-the-art incubation facilities, technological labs, mentorship, and market access. The funding is intended to help startups with various early-stage activities, including concept validation, prototype development, market research, and marketing.

Notable startups that received funding under NGIS include Silver Genie Pvt. Ltd. and Mool Innovation Labs Pvt. Ltd., among others. Additionally, startups like Exa Mobility India Pvt. Ltd. and Combat Robotics India Pvt. Ltd. were among those funded under the CoEs program.

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