STPI's Startup Surge: Rs 286 Crore Raised

State-run STPI-supported 134 startups have secured Rs 286 crore in funding. Under the NGIS scheme, early-stage capital was allocated to 136 startups, with 44% led by women entrepreneurs. The STPI, a key incubator since 1992, continues to bolster India’s IT-ITes sector, now valued at USD 250 billion.

State-run STPI-supported 134 startups have successfully raised Rs 286 crore in investor funding, announced a top official during a recent event.

Arvind Kumar, Director General of the Software Technology Parks of India (STPI), elaborated on the significant financial support provided to startups under the Next Generation Incubation Scheme (NGIS) of the Ministry of Electronics and IT. The scheme has distributed Rs 30.87 crore in seed capital to 136 startups.

Moreover, Kumar highlighted the role of women entrepreneurs and the vital contributions of startups from Tier-2 and Tier-3 cities, emphasizing the need for continued policy improvements to maximize the potential of the startup ecosystem.

(With inputs from agencies.)