STPI to conduct NGIS scheme in Vijayawada centre
HYDERABAD: The Software Technology Parks of India (STPI) on Tuesday said it will be implementing its Next Generation Incubation Services (NGIS) scheme, which is meant for tier-2 locations, at its Vijayawada centre.
As part of NGIS scheme, which will be implemented in 12 STPI centres across the country over a period of three years, the local startup ecosystem will be nurtured and supported.
As part of NGIS, quarterly challenge programmes will be conducted in association with industry partners as well as central government departments and agencies that can provide mentorship as well as funding support. MeitY has approved Rs 60 crore to be spent in three years for the 12 locations to nurture about 300 start-ups and all the state governments too have been extending matching grants.
Meanwhile, STPI also announced the launch of NextGen Idea Challenge Contest – ‘CHUNAUTI’ (Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention), where start-ups across the country can participate and work virtually or choose one of the 12 locations to operate from.
The selected start-ups will have access to STPI’s nationwide mentor pool apart from local mentors. The start-ups selected as part of the challenge are expected to work on solutions to address the issues faced during and post pandemic in areas such as education, agriculture, finance, logistics and skilling among others.
As part of NGIS scheme, which will be implemented in 12 STPI centres across the country over a period of three years, the local startup ecosystem will be nurtured and supported.
As part of NGIS, quarterly challenge programmes will be conducted in association with industry partners as well as central government departments and agencies that can provide mentorship as well as funding support. MeitY has approved Rs 60 crore to be spent in three years for the 12 locations to nurture about 300 start-ups and all the state governments too have been extending matching grants.
Meanwhile, STPI also announced the launch of NextGen Idea Challenge Contest – ‘CHUNAUTI’ (Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention), where start-ups across the country can participate and work virtually or choose one of the 12 locations to operate from.
The selected start-ups will have access to STPI’s nationwide mentor pool apart from local mentors. The start-ups selected as part of the challenge are expected to work on solutions to address the issues faced during and post pandemic in areas such as education, agriculture, finance, logistics and skilling among others.
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