According to K. K. Singh, Joint Secretary, Ministry of Electronics and IT (MeitY), India needs to shift its focus from generating grants to empowering technology start-ups to succeed independently.
Singh spoke at the launch of Software Technology Parks of India’s (STPI’s) LEAP AHEAD program, aimed at assisting technology start-ups in scaling, product diversification, and regional expansion. The program offers up to Rs 10 million in funding support, and includes a comprehensive three-month mentorship program offering a mix of virtual and in-person sessions.
In addition, as per the data, the government has supported over 10,000 technology start-ups in the last five years through various schemes and programs, disbursing nearly Rs 5.8 billion in total funding to start-ups through incubators. Meanwhile, MeitY supported over 3,600 start-ups, with a total funding of Rs 2.12 billion.