STPI’s LEAP AHEAD Summit: MeitY’s Vision for Entrepreneurship in India

0
407
STPI Launches LEAP AHEAD Initiative to Boost Tech Startup Success

New Delhi, 7th November 2023: The Ministry of Electronics & Information Technology (MeitY) has launched the LEAP AHEAD initiative in collaboration with Software Technology Parks of India (STPI) and The Indus Entrepreneurs (TiE) Delhi-NCR. The initiative, unveiled at the LEAP AHEAD summit in the presence of dignitaries, offers tech startups a significant boost in the scaling, growth, and expansion phases. Startups can access up to ₹1 Crore in funding and a comprehensive three-month mentorship program, including virtual and in-person sessions. Seasoned investors and industry experts will provide personalized guidance through one-on-one mentorship sessions. This initiative aims to empower entrepreneurs, especially those in smaller cities and women entrepreneurs, to build successful enterprises in India.

Shri S. Krishnan, Secretary of MeitY, emphasized India’s transformation from a BPO destination into a global capability center and R&D hub. He stressed the need to harness India’s digital public infrastructure for entrepreneurial success.

The DG of STPI, Shri Arvind Kumar, highlighted the focus of the LEAP AHEAD initiative on mentorship and co-investment, fostering technology startups’ entry into the market, rapid growth, and diversification into new horizons.

Dr. Saurabh Shrivastava, Chairman Emeritus of TiE Delhi-NCR, emphasized the role of funding, mentoring, and market access provided by TiE Delhi-NCR’s collaboration with STPI. The initiative will guide startups in achieving a product-market fit, identifying customer segments, growth hacking, business compliance, leadership recruitment, and fundraising.

The LEAP AHEAD Accelerator Program is set to expand to cities such as Vijayawada, Chandigarh, and Bhubaneswar, with the goal of nurturing startups and fostering entrepreneurial brilliance.

STPI launches LEAP AHEAD initiative for startups to get access to investment, mentorship & global connect

The launch event featured three panel discussions and served as a networking platform, connecting entrepreneurs with peers, potential investors, and influential thought leaders within the entrepreneurial ecosystem. A knowledge report titled “From Startup to Scale Up: The Role of Digital India and Opportunities Ahead” was unveiled during the event. It showcases success stories of startups harnessing Digital India’s potential to address societal challenges, stimulate economic growth, and create jobs. Additionally, seven MoUs were exchanged between STPINext and ecosystem enablers, and 20 startups collectively received ₹6.1 crore from NEXTGen Technology Fund1, established under the NGIS scheme with STPINEXT as the anchor investor, and other investors.