After Mohali, Amritsar may soon be a hub of small and medium enterprises (SMEs) in Punjab as the much-awaited state-of-the-art second centre of Software Technology Parks of India (STPI) is likely to become operational shortly.
“The facility is ready and soon it will be inaugurated. Since the STPI is working on the modalities to bring in IT/ITes companies to tier-II and III cities, this will be a step in that direction,” said STPI Director General Arvind Kumar, who was in the city to participate in the seventh edition of the North India’s biggest startup and Entrepreneurial Event TieCon 22.
For the growth of the IT sector in the region, the ecosystem should focus on new start-up units as well as big IT companies. Due to the high cost of land, small new IT units are unable to start operations. So this incubation facility in Amritsar will go a long way in promoting entrepreneurship in the region. The STPI at Mohali registered an export turnover of Rs 5,000 crore last fiscal.
Currently, there are 42 start-ups registered with Startup Punjab. Secretary-cum-Director Industries and Commerce, Punjab, Sibin C, said the number may look small, but the quality of start-up was amazing.
To foster start-ups, the state has already established Innovation Mission Punjab, a unique public-private partnership to bring in leading global investors and experts to catalyse the start-up ecosystem in the state. The mission intends to unleash Punjab’s growth potential and create a thriving economy that generates jobs. To fund the start-ups, an innovation fund of Rs 150 crore had also been created, Sibin added.
What’s in for entrepreneurs
- Spread over 40,000 sq ft, the STPI centre will offer facilities such as plug and play, incubation, data centre
- It will encourage IT/ITes entrepreneurs to set up shop and start operations in the region
- The software park at Mohali registered an export turnover of Rs 5,000 crore last fiscal
