STPI fails to meet start-up funding target, seeks scheme review: DG

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STPI fails to meet start-up funding target, seeks scheme review: DG - Business Standard

Quick Summary:

During the STPI's Sangam event, Kumar said that the organisation has been able to provide seed funds to 136 start-ups in the last three years under the Next Generation Incubation Scheme (NGIS) which calls for analysing the shortcomings in the implementation of the scheme.

Software Technology Parks of India (STPI) has failed to meet the target of funding 300 start-ups under a central scheme, its Director General Arvind Kumar said while calling for a review of the performance of the agency which has been set up to promote IT and ITES companies.

The scheme was started five years back, but for two years actually, nothing happened except finding some fund manager.