The STPI has not met its goal of funding 300 startups, achieving only 136. Director General Arvind Kumar highlighted the need for performance reviews and improvements in the Next Generation Incubation Scheme. The Ministry of Electronics and IT emphasized the importance of nurturing startup innovation and collaboration among institutions.
The Software Technology Parks of India (STPI) has fallen short of its ambitious goal of funding 300 startups, achieving support for only 136 within the last three years. This revelation came from Director General Arvind Kumar during the STPI’s Sangam event, prompting a need for self-reflection and an evaluation of the agency’s operations under the Next Generation Incubation Scheme (NGIS). Kumar emphasized the missed targets and the importance of understanding the underlying reasons behind the shortfall.
At the heart of the review is a question of performance. Although the government allocated ₹95.03 crores to support tech startups through its incubators, the results indicate only 33% achievement against its target. Kumar highlighted the initial two years of the scheme as unproductive, expressing concern over the agency’s handling and execution, and calling for an honest assessment of their efforts.
Further exploring this concern, Kumar noted that the current funding provided totaled around ₹35 crores, raising questions about the processes, mentorship, and outreach strategies that led to this outcome. He welcomed participants at the Sangam event to contribute feedback for improving scheme operations, indicating a transformative approach might be necessary to fully reach their goals.
Moreover, Secretary of the Ministry of Electronics and IT, S. Krishnan, echoed these sentiments. He lamented the scarcity of new startups to fill the existing incubation centres, stressing their pivotal role in fostering groundbreaking innovation, particularly in fields like artificial intelligence. He urged for a proactive pursuit of fresh entrepreneurial minds amid challenges presented in the educational sphere and the competitive landscape.
In conclusion, both Kumar and Krishnan agreed on the need for collaborative efforts among institutions to pool resources effectively, particularly in tier-2 and tier-3 cities where access to mentorship remains scarce. Their call for a concerted effort and reflection aims not just to celebrate achievements but to strengthen the startup ecosystem fundamentally.
The STPI’s failure to achieve its startup funding target of 300, reaching only 136, has prompted a call for review and introspection. With substantial government support at stake, the focus is now shifting to improving the operational framework, addressing mentorship gaps, and enhancing outreach. The collaboration between government bodies and educational institutions is crucial for igniting innovation in the startup landscape, especially in underserved cities.
Original Source: money.rediff.com
