STPI inks MoUs with IDBI Capital Market & Securities Ltd & MergerDomo

AIC STPINEXT Initiatives (STPINEXT), a special purpose vehicle of Software Technology Parks of India (STPI), an organization under the Ministry of Electronics and Information Technology (MeitY) has signed two memorandums of understanding (MoUs) one with IDBI Capital Markets & Securities Limited (ICMS), a well-known investment banking and financial services company and another with MergerDomo, a global online marketplace that enables fundraising and consulting for startups in the country. These partners would play critical role in supporting and handholding the startups in the growth journey through technical guidance & assistance, mentoring, pitching to investors, funding support, and market connect & access etc.

Speaking on the occasion, Shri Arvind Kumar, DG, STPI highlighted, “STPI & STPINEXT have created a strong collaborative ecosystem and are continuously striving to enhance it for nurturing emerging tech startups into self-sustainable and market ready ventures. For addressing the diversified needs of the startups, STPI & STPINEXT have associated with various organization who excel in their functional areas. Moving forward, collaboration will be a critical parameter for success, and STPI’s robust CoE ecosystem is a glaring manifestation of this.”

STPI has announced setting up of 25-plus Centres of Entrepreneurship (CoEs) in specific domains spread across India. To further strengthen the startup ecosystem, STPINEXT is getting into an association with IDBI Capital Market &Securities Ltd. and MergerDomo. The forthcoming support from these organizations will be of immense value to the startup community.

Shri Subodh Sachan, Director, STPI & MD & CEO, STPINEXT cited, “Signing of MoUs with IDBI Capital & Merger Domo is a laudable step towards further galvanising STPI’s startup ecosystem to nurture startups by providing them access to industry, industry associations, and funding partners for scaling up their ventures.”

Speaking on the occasion Shri Vikram Jain, Senior Manager, ICMS highlighted, “Under this collaboration, ICMS may on best effort basis support STPI CoEs’ initiative with regards to supporting and nurturing the selected startups by providing Venture Capital Funding and also through mentoring and knowledge sharing in financial and fund-raising space.”

Shri Hormazd Charna, Founder & CEO, MergerDomo said, “The collaboration will strengthen STPI’s startup ecosystem in particularly through Fund Raising, Market Access, Presenting startups to its investor community on its technology platform, etc.”

Sh. Arvind Kumar, DG -STPI conferring STPI Excellence Awards to IT/ITES companies at TiECON Chandigarh2022 testifies how STPI recognizes the success of IT/ITES companies & their massive contributions towards tech innovation. Here are some media reports.

Interaction  of  Sh. Arvind Kumar, DG - STPI with Times of India :

In an interaction  with @TimesofIndia , Sh. Arvind Kumar, DG - STPI shares his insightful thoughts on the dynamics of Indian startup ecosystem, highlights the exports growth of STP units under STPI Mohali and cites the impact created by STPI Neuron. ( Ref.  - Times of India News )

After Mohali, Amritsar may soon be a hub of small and medium enterprises (SMEs) in Punjab as the much-awaited state-of-the-art second centre of Software Technology Parks of India (STPI) is likely to become operational shortly.

“The facility is ready and soon it will be inaugurated. Since the STPI is working on the modalities to bring in IT/ITes companies to tier-II and III cities, this will be a step in that direction,” said STPI Director General Arvind Kumar, who was in the city to participate in the seventh edition of the North India’s biggest startup and Entrepreneurial Event TieCon 22.

For the growth of the IT sector in the region, the ecosystem should focus on new start-up units as well as big IT companies. Due to the high cost of land, small new IT units are unable to start operations. So this incubation facility in Amritsar will go a long way in promoting entrepreneurship in the region. The STPI at Mohali registered an export turnover of Rs 5,000 crore last fiscal.

Currently, there are 42 start-ups registered with Startup Punjab. Secretary-cum-Director Industries and Commerce, Punjab, Sibin C, said the number may look small, but the quality of start-up was amazing.

To foster start-ups, the state has already established Innovation Mission Punjab, a unique public-private partnership to bring in leading global investors and experts to catalyse the start-up ecosystem in the state. The mission intends to unleash Punjab’s growth potential and create a thriving economy that generates jobs. To fund the start-ups, an innovation fund of Rs 150 crore had also been created, Sibin added.

What’s in for entrepreneurs

• Spread over 40,000 sq ft, the STPI centre will offer facilities such as plug and play, incubation, data centre
• It will encourage IT/ITes entrepreneurs to set up shop and start operations in the region
• The software park at Mohali registered an export turnover of Rs 5,000 crore last fiscal