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Hon. PM Modi’s vision is to ensure that every Young Indian gets an opportunity to participate in India’s vibrant Startup & innovation ecosystem: MoS Rajeev Chandrasekhar

New Delhi, November 25, 2022: Union Minister of State for Electronics and Information Technology, Skill Development and Entrepreneurship Shri Rajeev Chandrasekhar today inaugurated a Digital India startup hub at the Software Technology Parks of India (STPI) centre at Davanagere, Karnataka.

Speaking on the occasion,  Shri Rajeev Chandrasekhar said, “The STPI, Davangere will soon usher in new opportunities for jobs and entrepreneurship for the people in the region. It is our PM Narendra Modi Ji's vision to ensure that every Young Indian gets an opportunity to participate in the India Techade initiatives taken by the Government.”

He said the Government’s emphasis has been on the growth of the IT/ITES/ESDM Industry in the newer cities, and that it should not be confined to the metropolitan centres.

This is the 63rd STPI centre in the country and the fifth in Karnataka.

Stating that India has the fastest-growing innovation system with more than 80,000 Startups and over 107 Unicorns, the Minister said the world today looks at India with awe and respect. “We have assumed the presidency of the G20, a league of the world’s largest economies and also the GPAI an international initiative on Artificial Intelligence. It is the fastest growing major economy that has surpassed the UK to emerge as the fifth largest economy, receiving its highest ever FDIs of $83Bn.”

Shri B A Basavaraja, District In-charge Minister, Davanagere, Shri G M Siddeshwara, Member of Parliament, Davanagere, Shri Arvind Kumar, Director General, STPI and other dignitaries were present at the inaugural programme.

Shri Arvind Kumar, DG, STPI in his speech affirmed, “Spread over 10,000 sq.ft. area, Davanagere facility is the 5th sub-centre under STPI- Bengaluru. It has a state-of-the-art incubation facility to promote growth in IT/ITES services and build a resilient startup ecosystem.”

The State Government has provided 10,000 sq.ft. built up space in Karnataka State Open University (KSOU) Regional Centre, Davanagere for the establishment of this STPI Centre.

Among other facilities, the Centre has a plug-n-play 102 seater Incubation facility, a Network Operations Centre (NOC), a 16-seater conference room, and 32-seater cafeteria and provision for providing high-speed data communication facilities and other amenities & services required for the export of software & services.

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

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.