By navigating our site, you agree to allow us to use cookies, in accordance with our Privacy Policy.

Is Your Firm Eligible to Become the Next Unicorn Startup?

In order to enhance the startup ecosystem in the country, STPI has taken path-breaking initiatives such as Centres of Entrepreneurship (CoEs) and Next Generation Incubation Scheme.

Unicorn-IndiaDuring Semicon India 2022, Rajeev Chandrasekhar, Union Minister of State for Entrepreneurship, Skill Development, Electronics & Technology mentioned that India is ready to achieve an increased number of startups. Within two to three years we can expect 10 times growth in unicorns. While emphasizing the role of STPI, the minister said that the government is focusing to get unicorns from India’s tier 2 and 3 cities.

On the 75th year of India’s Independence, touted as ‘Azadi ka Amrit Mahotsav’, Software Technology Parks of India demonstrated its 75+ innovative startups in ongoing Digital India Week 2022. Out of 200 pavilions, STPI’s startup consignment was the largest exhibitor of futuristic digital solutions and emerging technology products. The expo attracted students, industry leaders, entrepreneurs, and common people from across India. It was a real celebration of the innovation spirit of India through startups.

What is Unicorn?

A privately held startup which has earned a value of $1 billion is known as unicorn. The amount is not considered as financial performance but it mainly based on their growth potential as it has attracted investors and venture capitalists which have taken part in various funding rounds.

Unicorns in India

As mentioned by PM Narendra Modi, 44 unicorns were established in India last year during the pandemic. Not only that, 14 more unicorns formed anew in three-four months this year. He says, the growth showcases that during the pandemic also our startups were creating wealth and value.

According to Invest India, the government’s National Investment Promotion and Facilitation Agency, “The year 2021, 2020, and 2019 saw the birth of the maximum number of Indian unicorns with 44, 11, and 7 unicorns coming each year, respectively.”

Unicorn
(Courtesy: Tylaz)

Software Technology Parks of India (STPI) comes under the Ministry of Electronics and Information Technology (MeitY) has an agenda to promote IT/ ITES Industry, Innovation, R&D, Start-ups, Product/ IP creation in the field of emerging technologies like the Internet of Things (IoT), Blockchain, Artificial Intelligence (AI), Machine Learning (ML), Computer Vision, Robotics, Augmented & Virtual Reality, Animation & Visual effect (AVGC), Data Science & Analytics for various domains like FinTech, Agritech, MedTech, Autonomous Connected Electric & Shared(ACES) Mobility, ESDM, Cyber Security, Gaming, Industry 4.0, Drone, Efficiency Augmentation, etc. established in 1991.

In order to enhance the startup ecosystem in the country, STPI has taken path-breaking initiatives such as Centres of Entrepreneurship (CoEs) and Next Generation Incubation Scheme (NGIS) to provide a robust collaborative ecosystem to tech startups, innovators & budding entrepreneurs in the country to build technology products and create IPRs.

STPI Startup Ecosystem

STPI initiative offers different verticals that have been explained below;

Centres of Entrepreneurship (CoEs)

  • State-of-the-art incubation infrastructure
  • Access to world-class labs & equipment for products quality
  • Mentoring support across the product development lifecycle
  • Funding, investor interface & IPR Facilitation
  • Industry connect, networking and marketing
  • Integrated lab network

Next Generation Incubation Scheme (NGIS)

  • Up to Rs. 25 lakhs of seed/risk funding for promising startups
  • Internship grant to selected startups
  • Plug n play incubation space
  • Regular mentorship
  • Regular workshop, seminar and trainings

STPI has successfully launched 20 CoEs in emerging technology domains and targets to support 1,900+ startups while enabling them to create 500+ marketable products/services with 100+ IPRs/patents in various emerging technologies.

Tags

Nitisha Dubey

I am a Journalist with a post graduate degree in Journalism & Mass Communication. I love reading non-fiction books, exploring different destinations and varieties of cuisines. Biographies and historical movies are few favourites.

Related Articles

Upcoming Events