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The Software Technology Parks of India on 25 August said that it will implement its Next-Generation Incubation Services scheme, which is meant for tier-II locations, at its Vijayawada centre.
As part of the scheme, the local start-up ecosystem will be provided with support. The scheme will be implemented in 12 STPI centres across India over a period of three years.
As part of the scheme, quarterly challenge programmes will be held in collaboration with industry partners. Central government departments will also provide support in the form of mentorship and finances. MeitY has approved an expenditure of 600 million INR to be spent in three years across the 12 locations to grow around 300 start-ups. The different state governments will also provide grants
STPI has also announced the launch of CHUNAUTI, or Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention, where startups can participate and work virtually; alternatively, they could choose to operate from one of the 12 locations.
The chosen start-ups will have access to the mentor pool of STPI as well as local mentors. The start-ups are expected to work on solutions to address the issues faced during and after the pandemic in fields such as education, agriculture, finance, supply, and so on.
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