Info-tech

STPI 2.0 to focus on promoting start-ups

KV Kurmanath Hyderabad | Updated on February 18, 2020 Published on February 18, 2020

Omkar Rai, Director General of STPI   -  Bijoy Ghosh

Will also look at developing start-ups in Tier II cities

The Software Technology Parks of India (STPI), which has played a key role in the development of IT industry in the country, is now in its 2.0 version where it has assumed the additional task of promoting start-ups. Interestingly, in its new version, the STPI would equally focus on developing start-ups in tier-II cities.

“We are going to leverage our unique position to tap our connections and goodwill, which is something not available to any other organisation, in the IT industry,” said STPI Director-General Omkar Rai.

It is in the process of ‘soft-launching’ Centres of Excellence in top cities to handhold start-ups with the active participation from industry associations, academic institutions, investors and other stakeholders.

Centres of Excellence

It is planning to set up 28 Centres of Excellence in different parts of the country, under the new brand of IMAGE-STPI, with a particular focus on the emerging technologies such as Artificial Intelligence, Robotics, VFX, Gaming and Animation.

Rai said it is a new role that the organisation assumed keeping in view the unfolding opportunities for start-ups in the country. Unlike in the earlier version, where it set up incubators for IT firms, the STPI would now work with the ecosystem. He said the STPI would also promote start-ups in tier-II cities such as Vijayawada.

“As many as 11 locations have been identified for this programme. We might also provide seed funding too. But the issue is not about seed funding. Several start-ups look for mentorship and guidance to build their businesses,” he said.

On Monday, it opened its seventh such CoE here at the STPI’s facility at Madhapur. The CoE would host cohorts targeting specific verticals.

“Yes, you can call it STPI’s 2.0 version where we would like to create proper enabling ecosystem. We expect combined investments to the tune of ₹600 crore on the CoEs,” Rai told BusinessLine.

“The idea is to incubate 25 start-ups every year in the next five years,” he said.

As it begins its operations in the 10,000-sq ft facility, the CoE signed agreements with TVAGA (Telangana VFX, Animation and Gaming Association), Hyderabad Angels, Hyderabad Software Exporters’ Association and International Institute of Information Technology (IIIT-H).

The five entities will provide resources and mentorship to the start-ups at the incubation centre. Those wanting to join the programme can submit their entries by March 31 at image.stpi.in.

Published on February 18, 2020
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