India needs to empower technology start-ups to succeed independently, says MeitY

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, 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.