STPI's Incubation Struggle: A Call for Review and Reform

Software Technology Parks of India (STPI) has fallen short of its goal to fund 300 start-ups under the Next Generation Incubation Scheme (NGIS). Director General Arvind Kumar emphasizes the need for a comprehensive review to address execution gaps. The scheme has supported 136 start-ups with a Rs 35 crore fund.

Software Technology Parks of India (STPI) is grappling with unmet objectives in its ambitious plan to fund 300 start-ups. The organization's Director General, Arvind Kumar, urges a thorough review of STPI's performance under the Next Generation Incubation Scheme (NGIS), highlighting execution flaws in achieving its goals.

During the Sangam event, Kumar revealed that only 136 start-ups received seed funds, a significant shortfall from the 300-target set, raising concerns about ineffective management and support processes. Despite a total budget of Rs 95.03 crore, only Rs 35 crore has been disbursed to date.

Ministry of Electronics and IT Secretary, S Krishnan, stressed the importance of fostering the startup ecosystem, pointing out the challenges of finding new start-ups to populate incubation centers. Calls for increased collaboration and resource-sharing among institutions were made to address these challenges and support technology-driven innovation.

(With inputs from agencies.)