For fostering entrepreneurship and nurturing tech startups in the country, AIC STPINEXT Initiatives, a special purpose vehicle of Software Technology Parks of India (STPI), has signed two memorandums of understanding (MoUs), with HDFC Bank and Excelpoint Systems India Pvt Ltd.

These partners would play a critical role in supporting and handholding the startups in the growth journey through technical guidance and assistance, mentoring, pitching to investors, funding support, and market connect and access, etc, STPI said.

STPI has announced setting up of 25-plus Centres of Entrepreneurship (CoEs) in specific domains spread across India to build leadership and create next wave of budding entrepreneurs in the emerging sectors of technology.

Arvind Kumar, DG, STPI said, “STPI continuously is looking to strengthen the technology startup ecosystem and signing of MoUs today is a step forward. Today, India is a hotbed for innovation, and tech startups are in the center stage to leapfrog this technology revolution. Technology will continue to play a dominant role in coming decade and government through its various initiatives working towards making India the largest startup ecosystem of the world.”

Akhilesh Roy, Branch Banking Head-North & National Head- Sales Excellence & Transformation, HDFC Bank said, “Software exports from India today stand at USD 142 billion. STPI is doing an excellent job in boosting IT/ITeS exports from the country. There are 83 unicorns in the country today, of which 42 were added in 2021 alone. STPI is one of the prominent institutes supporting the startup ecosystem. We are extremely committed to the growth of startup ecosystem. This MoU is a small step towards supporting the startup ecosystem through STPI & STPINEXT.”

Stanley Chan, Senior Vice president Operations, Excelpoint Systems (Pte) Ltd, said, “Startup is the future of technology. Excelpoint Systems is planning to expand its support for the startup ecosystem. For last 25 years, we are helping startups to bring their products to market. Launching of 20 CoEs by STPI is a commendable milestone. The signing of MoU is a step towards continuing our efforts to strengthen the startup ecosystem in India.”

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