STPI Introduces Incubation Program 'LEAP', Set To Fund 75 Startups
The program is in collaboration with TiE Delhi-NCR for startups to get access to investment, mentorship and global connect. Startups registered under the Department for Promotion of Industry and Internal Trade (DPIIT) and having raised a minimum of Rs 25 lakh from external investors or are bootstrapped are eligible
The State-owned Software Technology Parks of India (STPI) has commenced the application process for its Leap program, aimed at providing financial support to startups in partnership with venture capitalists and private investors. An official from STPI revealed this development on Monday.
As part of the program, STPI plans to select 75 startups this year and facilitate funding of up to Rs 1 crore for each startup through collaborative efforts with venture capital firms and angel investors.
"We have already invested Rs 25 lakh through NGIS. We have already made investment in about 100 startups from the total fund that we have. Through Leap we are looking to nurture the next 100 startups," STPI Director General Arvind Kumar said.
Startups registered under the Department for Promotion of Industry and Internal Trade (DPIIT) and having raised a minimum of Rs 25 lakh from external investors or are bootstrapped are eligible for the programme.
