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STPI felicitates 16 startups under NGIS scheme
Economic Times
·
4m ago
Medial
The Software Technology Parks of India (STPI) recognized 16 startups under the Next Generation Incubation Scheme (NGIS) during the SANGAM 2025 event in Delhi. STPI Director General Arvind Kumar emphasized the importance of startups in India's digital economy. The event showcased startups from various sectors, including healthtech, fintech, and agritech, highlighting their contributions to solving real-world problems and elevating India's entrepreneurial spirit globally. Notable attendees included MeitY Secretary S Krishnan and industry leaders.
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STPI-supported startups raise Rs 286 crore fund from investors
Economic Times
·
4m ago
Medial
State-run STPI-supported 134 startups raised Rs 286 crore from investors, as revealed by STPI Director General Arvind Kumar at the STPI Sangam event. Under the Ministry of Electronics and IT's NGIS, STPI provided seed capital of Rs 30.87 crore to 136 startups and stipends of Rs 3.57 crore to 359 others. With 44% of its startup portfolio comprising women entrepreneurs, STPI aims to enhance its startup ecosystem, particularly in Tier-2 and Tier-3 cities.
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Startup BonV Aero drives drone innovation with support from STPI
Economic Times
·
8m ago
Medial
Bhubaneswar-based deeptech startup BonV Aero, known for manufacturing logistics drones for the defence sector, has achieved significant growth. The startup received $1.6 million in funding from the TV show Meet the Drapers, and has also secured funding from various investors. BonV Aero owes its success in part to the support of Software Technology Parks of India (STPI), which mentored and incubated the startup. STPI is now focused on supporting technology startups outside of established hubs, aiming to democratize technology innovation and entrepreneurship. Through initiatives like Next Generation Incubation Scheme and Leap Ahead, STPI provides funding, mentorship, and networking opportunities to startups across various industries.
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HRtech startup Upraised raises Rs 25 lakh by UK-based Pontaq VC
IndianStartupNews
·
1y ago
Medial
Upraised, an HRtech startup based in Kolkata, has secured a funding round of Rs 25 lakh, led by UK-based Pontaq VC and facilitated through the Next Generation Incubation Scheme by Software Technology Park of India (NGIS-STPI). The funding will enable Upraised to enter the US and UK markets, enhance its technology infrastructure, hire new talent, and bolster its marketing efforts. Established in 2021 by Debarya Dutta, Upraised utilizes artificial intelligence (AI) to provide cognitive and aptitude assessments, aligning candidates with suitable job roles. Their machine learning algorithm matches candidates' strengths to relevant projects. Before this, the startup received funding from Pilani Innovation and Entrepreneurship Development Society (PIEDS) and the Nidhi entrepreneurship-in-residence (EIR) grant from the Department of Science and Technology (DST), Government of India, through IIM-Udaipur Incubation Centre.
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IT exports climb 12.5% to $224 billion in FY25: MeitY - The Economic Times
Economic Times
·
1d ago
Medial
India's IT exports grew by 12.48% to $224.4 billion in fiscal year 2024-25, a significant increase from the previous year's 2.83%. This growth was driven by the government's Software Technology Park of India (STPI) scheme, which expanded beyond major cities, fostering startups and creating jobs in non-metro areas. The scheme supports numerous businesses, contributing significantly to export figures and employment across various smaller cities in India.
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STPI lauds Rs 10,000-crore allocation for AI mission
Economic Times
·
1y ago
Medial
The allocation of Rs 10,000 crore for artificial intelligence (AI) in India is significant for startups in all sectors, according to Arvind Kumar, Director General of Software Technology Parks of India (STPI). The funding, approved under the India Artificial Intelligence Mission, aims to create computing infrastructure through public-private partnerships. The allocation will benefit the entire startup community and help in the development of indigenous GPUs in the country. Startups have long requested access to GPU clusters, given their scarcity and high cost.
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STPI To Back 25 Startups Under LEAP Ahead 2.0
Inc42
·
9m ago
Medial
The second edition of LEAP Ahead, an initiative by STPI, will support 25 startups from Tier II and III cities in India. The government will provide funding of up to INR 50 lakh based on the performance of the selected startups. The previous cohort of startups has already received commitments totaling INR 78 crore.
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Driven by government support, semiconductor startups in India attract record investment - The Economic Times
Economic Times
·
15d ago
Medial
India's semiconductor design ecosystem is strengthening with government-supported startups under MeitY's DLI Scheme and C2S Programme attracting significant investment. Netrasemi, a startup supported by the chip design scheme, received Rs 107 crore in venture capital for projects in smart vision and IoT applications. Since DLI's 2022 launch, the government has committed Rs 234 crore to 22 companies' projects. Startups under these schemes have collectively raised over Rs 380 crore from investors, advancing India's chip design capabilities.
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Paytm Allots 2.5 Lakh Equity Shares Under ESOP Schemes
Inc42
·
11m ago
Medial
Paytm, the Indian digital payments firm, has allotted a total of 254,288 shares under its Employee Stock Option Scheme 2019. Additionally, 620 shares have been allotted under the Employee Stock Option Scheme 2008. This increase in allotted shares has raised the issued, subscribed, and paid-up equity share capital of Paytm to INR 63.66 crore from INR 63.63 crore. Paytm joins other technology startups like Zomato and Nykaa in issuing equity shares under Employee Stock Option plans.
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Fund Of Funds For Startups Facilitated INR 18K Cr Investments By FY24: Economic Survey
Inc42
·
1y ago
Medial
The Indian government has allocated over INR 10,500 Cr for Alternative Investment Funds (AIFs) by the end of FY24 under the Fund of Funds for Startups scheme. Launched in 2016, the scheme aims to support the Indian startup ecosystem and attract more funding to the sector. As of November 2023, the government's Fund of Funds had facilitated investments worth INR 17,534 Cr in 938 Indian startups, as reported by CRISIL.
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Drone industry wants PLI outlay raised to help more companies take off
Economic Times
·
1y ago
Medial
The drone industry in India is urging for an expansion and increase in the outlay of the production-linked incentive (PLI) scheme for drones. The industry wants more players to be able to apply for the scheme and for the overall funding to be raised. Currently, the scheme benefits startups and micro, small, and medium enterprises. The government has disbursed Rs 30 crore to beneficiaries under the scheme, which aims to promote indigenous drone manufacturing. The industry also advocates for service-linked incentives and checks to maintain quality standards.
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