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STPI Disburses Seed Fund to Tech Start-ups for Scaling up their Ventures

During Digital India Week 2022, Software Technology Parks of India (STPI) enabled funding to promising start-ups through the Next Generation Incubation Scheme (NGIS) and Centres of Entrepreneurship (CoEs)
  • 28 promising start-ups were provided seed fund/financial help of Rs. 342.5 Lakh
  • These 28 startups are members of the STPI Startup ecosystem, which includes CoEs and NGIS schemes

During Digital India Week 2022, Software Technology Parks of India (STPI) enabled funding to promising start-ups through the Next Generation Incubation Scheme (NGIS) and Centres of Entrepreneurship (CoEs) programs in order to enable the digital start-ups to scale operations and commercialize their products. In ongoing Digital India Week, 28 promising start-ups were provided seed fund/financial help of Rs. 342.5 Lakh. Under NGIS 15 start-upshave been provided seed funds of up to Rs. 25 Lakh. Additionally, 13 start-ups under CoEs program have been provided with funding support up to Rs. 5 Lakh. With this, STPI achieves another significant milestone in supporting the start-up eco-system.

In the formal presence of Dr. Rajendra Kumar, Additional Secretary, Ministry of Electronics & IT (MeitY), Government of India, Shri Amit Agrawal, Additional Secretary, MeitY, Dr. Jaideep Kumar Mishra, Additional Secretary, MeitY, Shri Bhuvnesh Kumar, Joint Secretary, MeitY and Shri Arvind Kumar, DG, STPI announced the 28 recipients of seed fund.

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These 28 startups are members of the STPI Startup ecosystem, which includes CoEs and NGIS schemes. These start-upsare working in the fields of HealthTech, EdTech, FinTech, IoT, Electronics, Semiconductors, Robotics, Autonomous linked Electric vehicles, Mobility, and Gaming & Animation. In accordance with their plans.

STPI at present is the nation’s biggest ecosystem for tech startups which offers a state-of-art incubation facility, cutting-edge technological labs, mentoring, market connections besides other services to nurture start-ups to make them ready for the market. Seed funding is provided to startups for concept validation, prototype development, market research, skill training, marketing, and other preliminary startup-related tasks.

Read also – [Funding alert] Proptech startup BuildNext raises $3.5 mn in Pre-Series A round

Companies under NGIS which got seed fund are Silver Genie Pvt. Ltd., Bookzy Edufy Pvt. Ltd., Felis Leo Widgets Pvt. Ltd., Mool Innovation Labs Pvt. Ltd., UmaRobotics Technology Pvt. Ltd., Revolut Healthtech Pvt. Ltd., Shree Raj Govind Technologies Pvt. Ltd., Manodayam Pvt. Ltd., Study Comrade Pvt. Ltd., Tenvo Business Solutions Pvt. Ltd., Sunne EdTech Pvt. Ltd., Learning Matters Pvt. Ltd., Fides MedTech Pvt. Ltd., TalentSpotify Pvt. Ltd., and Kaigal Services Pvt. Ltd.

Thirteen (13) startups under STPI CoEs financial assistance up to Rs. 5 Lakh are Nishtula Instrument and Innovation Pvt. Ltd., SPK-MAK Technologies Pvt. Ltd.; Priorities Made Easy Technology Pvt. Ltd.,SMPS Electric Control Pvt. Ltd., Electromotion E-Vidyut Pvt. Ltd., Exa Mobility India Pvt. Ltd., Eidikos Business Enterprises Pvt. Ltd., Danox App Pvt. Ltd., GoVidyouth Mobility Pvt. Ltd., Aeidth Technologies Pvt. Ltd., Eranext Auto Pvt. Ltd., Combat Robotics India Pvt. Ltd., and Banzan Ventures Pvt. Ltd.

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