STPI invites applications from startups for funding

The Software Technology Parks of India (STPI) today started inviting applications from startups to fund entrepreneurs in collaboration with venture capitalists and other private investors.

The STPI will select 75 startups under the programme this year and facilitate funding of up to Rs 1 crore.

MeitY Secretary S Krishnan said venture capitalists and incubators should look at reaching out to startups beyond metros and tier-1 cities.

STPI Director General Arvind Kumar said the programme for funding is called Leap (Launchpad for Tech Entrepreneurs towards Accelerated growth and Pioneering Ahead). The government has allocated Rs 95 crore to STPI for supporting up to 300 startups.