Hyderabad

STPI to promote incubation centres in tier II, II cities

Vijayawada is one of the 11 centres picked up in the initial phase

Omkar Rai, Director General, Software Technology Parks of India, said that 28 Centres of Excellence will be set up in a year for mentoring domain-specific start-ups.

Speaking to media persons on the sidelines of the launch of IMAGE Centre of Excellence for Gaming, VFX, Computer Vision and AI here on Monday, he also said that Next generation of Incubation Centres (NGIC) were being launched by the Union Ministry of Electronics and IT exclusively in tier two and three cities soon.

The STPI will be the implementing agency for the NGICs. The idea is to make sure that smaller towns and cities with lot of potential talent too can be brought on the same page where the Tier 1 start-ups are standing now, he says.

The STPI picked up 11 locations for the initial phase including Vijayawada in Andhra Pradesh, Mohauli, Patna, Bhopal, etc. “We want to support and focus on smaller towns. We will provide mentor support, initial seed funding support, Plug and Play infrastructure, labs with up to ₹100 crore operational expenditure. The process has started and the Vijayawada centre and other centres will function in three months,” he said.

The STPI will support the NGICs for three years and for 28 CoE, it will be for five years. The CoEs and NGICs in the vicinity will converge and talk to each other to create better synergy.

Exports

He disclosed that the STPI exports for 2018-19 stood at ₹4.24 lakh crore. Recently, NASSCOM announced that overall export has grown from $ 136 billion to $147 billion and overall revenue from the IT and Electronics has grown from $ 177 billion to $ 191 billion. But most importantly, the full focus of the government is towards making India a software product nation.

“Right now the software product market in India is close to $ 8 billion to $ 9 billion and world over the software product market stands at more than $ 500 billion. Under the new national software product policy approved by the Union Cabinet, NGICs were being launched. “Our target is to ensure India also reaches $ 70 billion to $ 80 billion software product market by 2025, export plus domestic. We want tier 2 and 3 cities also should contribute to this target. We are doing very well in terms of software exports and IT services. We are the largest outsourcing destination. But there is much to be done in the area of software products,” he said.

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Printable version | Apr 4, 2020 12:31:29 PM | https://www.thehindu.com/news/cities/Hyderabad/stpi-to-promote-incubation-centres-in-tier-ii-ii-cities/article30846082.ece

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