The Software Technology Parks of India (STPI) hopes to provide seed capital to 300 start-ups by 2024.
A scheme was announced by the Union ministry of electronics and IT in 2020 where the government had budgeted Rs 95.03 crore to fund start-ups across several sectors.
“Till now we have supported around 65 start-ups and by March 2024, we will be able to support all 300. Initially, the process was a little slow. But there has been a lot of learning and I think we will be able to deliver the target,” said Arvind Kumar, director-general, STPI, on the sidelines of the ABP group’s flagship event Infocom.
Kumar said that STPI is now focussing on facilitating the creation of software products and has set up 21 domain-specific centres of entrepreneurship across the country and more locations are being explored. It is also looking to set up edge data centre infrastructure and has identified 12 locations.
“It is important to set up data centres near the customers because latency is a key factor,” Kumar said.
The value of IT exports from STPI centres was around Rs 6 lakh crore in the 2021-22 financial year and despite geo-political concerns, Kumar said that a 10 per cent growth could be achieved in the current year.
Software Technology Parks of India (STPI) Kolkata presented STPI Export Awards 2021-22 to IT/ITeS STP units of Bengal on Thursday. The award ceremony was organized during the Infocom 2022 event.
