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Software Technology Parks of India (STPI), an organisation under MeitY, has signed six different MoUs with Bank of Baroda, YES Bank, Mathworks, Yourstory, Freshworks and Pontaq (the fund manager selected for next generation incubation scheme).

The MoUs are intended to promote entrepreneurship and create a nurturing ecosystem for STPI CoEs in areas such as digital and mobile payments, blockchain, IoT, big data, and other emerging technologies.

In order to deliver an all-embracing service to the incubated startups, STPI/STPINEXT has been constantly exploring associations with various partners from industry, academia, financial institutions, advisory bodies and experts to leverage their services, knowledge and expertise for bringing comprehensiveness to the service portfolio of the CoEs.

Speaking on the occasion Omkar Rai, DG, STPI & chairman, STPINEXT highlighted: “It’s a momentous occasion that we are signing MoUs & forging partnership with our esteemed partners, and this will further catalyse the startup momentum. Th COEs initiative is not an isolated one; it’s part of a larger startup program that MeitY has envisioned to accelerate startup growth through MeitY Startup Hub (MSH).”

Devesh Tyagi, senior director at STPI said: “STPI & STPINEXT are trying to create a startup ecosystem to address the problems of startups. We are attracting ideas, promoting innovation & research, and giving them a platform to translate their ideas into market-ready products. The concept of chief mentors, who are industry stalwarts & entrepreneurs, driving the success of startups differentiates us from other incubators.”

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“We have 177 startups on our platform from already launched 13 STPI CoEs and NGIS. Signing of MoUs is a key step towards building a robust startup ecosystem in the country,” cited Subodh Sachan, director at STPI and MD & CEO, STPINEXT during the exchange of MoUs & announcement of partnerships.

On this occasion Sunil Motwani, country manager at Mathworks said: “Signing of the MoU is an appropriate feat for further expanding our technology reach with engineering institutions, industries, and startups for scaling the skilling of professionals through MathWorks tools like MATLAB.”

Ajay Rajan, country head, transaction banking group at YES Bank said: “YES Bank has always been at the forefront of the digital revolution as one of its key evangelists and practitioners, fostering path breaking technology led innovations and guiding startups across their entire life cycle. It shall be our joint mission to use this platform for co-creating solutions that will help consumers of financial services, across India to adapt to digital services in a seamless, intuitive and ubiquitous manner. The fresh perspective brought through this collaboration will bolster the overall startup ecosystem.”

Akhil Handa, chief digital officer at Bank of Baroda said: “This is a momentous occasion for us to partner with STPI & STPINEXT and further fuel the growth of startup ecosystem. We can accelerate the growth by encouraging more young entrepreneurs joining the ecosystem. I can see the network of STPI CoEs pan-India and I am sure with this partnership will boost the start-up ecosystem.”

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