Why is it in the News?

Software Technology Parks of India (STPI) recently launched its 24th Center of Entrepreneurship (CoE) - "FinGlobe," dedicated to fostering innovation and growth in the financial technology sector, at STPI-Gandhinagar, GIFT City.

About Software Technology Parks of India (STPI):

• Software Technology Parks of India (STPI) was set up in 1991 as an autonomous society under the Ministry of Electronics and Information Technology (MeitY).
• STPI’s main objective has been the promotion of software exports from the country. STPI acts as ‘single-window in providing services to the software exporters.
• The services rendered by STPI for the software exporting community have been statutory services, data communications services, incubation facilities, training and value-added services.
• STPI has played a key developmental role in the promotion of software exports with a special focus on SMEs and start-up units.

Services of STPI:

• Main services of STPI include Statutory services, Incubation and Data communication services to the IT/ITES/ESDM sector.
  • Statutory services: STPI has been implementing the Software Technology Park (STP) scheme and the Electronics Hardware Technology Park (EHTP) scheme for the promotion of the IT/ITES industry.
  • STP Scheme is a unique scheme, designed to promote the software industry and growth of start-ups and SMEs without any locational constraints.
• Incubation services: STPI is offering ultra-modern office facilities to small units and entrepreneurs.
  • Plug-n-Play facilities for start-ups enable a short gestation period.
  • This has encouraged many entrepreneurs to start their own operations and grow in a competitive environment.

Objectives of STPI:

• Promotion of software and software services development and exports, including IT Enabled Services (ITES)/Bio-IT.
• Provision of statutory and promotional services to exporters through the implementation of schemes like Software Technology Park/Electronics and Hardware Technology Park, among others.
• Offering data communication services, along with value-added services, to industries related to IT/ITES.
• Encouraging micro, small, and medium entrepreneurs by fostering an entrepreneurial environment in the IT/ITES sector.