Startups

STPI inaugurates Atal Incubation Centre in Bengaluru for startups in healthcare, IoT, and ecommerce

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Software Technology Parks of India (STPI) on Saturday announced the inauguration of Atal Incubation Centre (AIC), a centre of excellence (CoE), in Bengaluru.

STPI-Bengaluru was shortlisted by the Atal Innovation Mission (AIM) of NITI Aayog to set up the incubation centre for innovative startups working in healthcare, IoT, ICT, and ecommerce domains at a budget outlay of Rs 20 crore, STPI said in a statement.

The target is to incubate about 65 innovative and disruptive technology startups over five years, according to STPI.

Omkar Rai, Director-General, STPI, said while inaugurating the CoE virtually,

“The future of India lies in startups. We have 55 unicorns and during the beginning of 2021, we added 10 unicorns. Startups at STPI CoEs can solve global challenges. Beyond fostering startups to build innovative products in solving the challenges of industry, STPI CoEs can play a major role in creating many unicorns.”

Photo: STPI

The new AIC facility is spread over 10,000 square feet and is equipped with state-of-the-art infrastructure, a lab with healthcare equipment such as vital signs monitor, ECG simulator, neuro stimulator, 3D printer, and common office facilities.

It is being supported by partners from industry/corporate, startups, venture capitalists, and academia, according to the statement.

The STPI, an autonomous society under the Ministry of Electronics and Information Technology (MeitY), Government of India, promotes the development and export of software and software services, including IT-enabled services from the country.

Last week, Bank of Baroda signed an MoU with STPI to support startups across India under its Baroda Startup Banking programme.

“2020s is the decade of startups and as a leading financial institution, we are continuously working towards designing innovative banking products and services, which meets the unique and specialized banking requirements of startups. This has led to our partnership with STPI and STPINEXT, which have emerged as a one-of-their-kind enabler for innovative startups pan India,” Akhil Handa, Chief Digital Officer, Bank of Baroda, said in a statement.

(Disclaimer: Additional background information has been added to this PTI copy)

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