STPI To Establish Centre Of Entrepreneurship For Efficiency Augmentation In Bengaluru

Software Technology Parks of India (STPI) under the Ministry of Electronics and Information Technology (MeitY) has announced that it will be launching a Centre of Entrepreneurship (CoE) in Bengaluru in association with the Karnataka government soon.

This will be STPI’s second CoE in Bengaluru and will focus on efficiency augmentation.

Making the announcement at the Bengaluru Tech Summit 2022, Arvind Kumar, Director General, STPI said, “Success of startups depends on all of our contributions. STPI is also contributing by mentoring startups, giving industry connect to them, providing seed funding and everything else to help startups.”

He highlighted that the autonomous body under MeitY has created 21 domain-specific CoEs so far, working in various areas including artificial intelligence, automobile and FinTech. 

The STPI DG also requested all the industry leaders present at the Tech Summit to provide startups with problem statements. He said that this would help startups develop good products that could be used not just domestically in India but also globally.

STPI already has a CoE in Karnataka called IoT OpenLab. It was created to be a technology platform for enabling innovative startups to develop IoT based applications, products and solutions. The overall budget of this project is Rs 11.47 crore over a period of five years in which MeitY’s contribution to be released as grant-in aid Rs 1 crore, contribution of STPI is Rs 3.52 crore and contribution of Arrow Electronics to be Rs 6.95 crore. According to STPI website, 10 startups have been onboarded by the CoE.